- Significant Matters
Our Commercial Property Practice is at the forefront of real estate acquisition, development and finance across the length and breadth of the African continent and successfully safeguards the interests of all industry roles players, whether they be developers, landlords, lenders, property funds or tenants.
Our team comprises a dynamic group of talented real estate legal practitioners situated in our various offices across the African continent.
Our geographical reach and our knowledge of the real estate industry throughout Africa, enable us to provide hands-on legal solutions across a wide array of multi-jurisdictional transactions, ensuring seamless collaboration and solutions to even the most complex of projects.
Our imperative is to provide industry role players with practical and cost-effective counsel throughout the property ’life cycle’, from structuring, acquisition, development, tenanting and financing, through to eventual disposal, drawing on the collective experience of some of Africa’s finest real estate legal practitioners.
Structuring and planning
Behind every successful real estate acquisition or development lies careful planning and structuring. The haste to acquire and build can often result in the omission of the crucial preliminary structuring and planning stage.
We recognise the pivotal role which careful structuring and planning plays in every successful real estate venture and offer the full spectrum of expert advice required at the outset of every real estate venture.
Acquisitions and disposals
The acquisition of real estate by a purchaser very often represents a fundamental implementation step in a real estate venture’s life cycle. Conversely, for a seller, the disposal of real estate represents the final chapter in the seller’s real estate venture in respect of that property. Both seller and purchaser have important interests which require safeguarding. We ensure that the interests of our principal (whether the seller or the purchaser) are protected in a practical and solutions orientated manner.
The development of real estate represents the phase, in the life cycle of a real estate venture that poses the greatest risk to developers. Successful real estate developments need to be implemented according to timetables (which are often tight) and budgets (which often have small margins). Our acclaimed development experts have successfully assisted developers in launching multiple developments on time and within budget.
Without finance, there can be no successful acquisition or development of real estate. Real estate financiers are crucial role players in the life cycle of real estate assets and are invested in ensuring the successful implementation of real estate ventures. We represent most of the leading real estate financiers across Africa and ensure that their interests are safeguarded when providing acquisition, development, term or restructuring finance to real estate investors, developers or real estate funds. We provide an integrated, end-to-end service. Our involvement commences with negotiating and preparing deal and term sheets and continues through drafting and settling the full suite of loan and security documentation, auditing underlying sale and lease agreements relevant to the venture being financed, attending to the registration of all registrable securities (whether notarial or mortgage bonds) and monitoring the fulfilment of advance pre-conditions. We also represent the interests of borrowers seeking acquisition, development, term or restructure finance and guide them through the negotiation and execution of the applicable financing and security documents in a way that they can commit with full knowledge of the liabilities they are assuming.
For developers and landlords, leasing real estate represents a crucial phase in realising these assets’ potential. It often forms the basis upon which real estate ventures will be financed. Ensuring the integrity of lease agreements concluded with anchor tenants or tenants otherwise identified as being critical to the viability of a real estate venture is central to the role which we play in representing the interests of landlords and developers in leasing real estate. We represent the interests of many of the most influential property funds and developers across the African continent throughout the leasing process. We also represent the interests of numerous retailers across Africa in ensuring that their interests, as tenants, and the specific needs of their businesses, are safeguarded in the lease negotiation and preparation process.
The real estate life cycle unfortunately often includes the need for dispute resolution services. A fact of life is that disputes over real estate and between parties to real estate acquisitions, disposals, developments, leases and financing transactions arise from time to time. Our real estate experts work with our specialist dispute resolution lawyers to offer a cost-effective, practical and solutions-based dispute resolution service in respect of real estate disputes.
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- Bowmans advises on FIDIC contracts in respect of a large residential development in Nairobi
- Bowmans advises Hospitality Property Fund on the issuance of Senior Secured Floating Rates Notes
- Bowmans advises Hospitality Property Fund on the reinstatement of its DMTN Programme and the restructuring of the group’s existing security structure
- Bowmans advises General Motors South African on disposal of Isuzu business
- Bowmans advises a large international hotel chain on possible establishment of operations in Nairobi
- OMP Africa Investment Company Proprietary Limited