The Real Estate Group at Yigal Arnon & Co. is of the oldest and most experienced in the field in Israel.
Our group is one of the largest in the country, and thanks to the rich experience of our lawyers and partners, the service we offer real-estate clients across all transaction types, is the best that the market has to offer, both in terms of quality and in terms of required timetables. We have extensive and multidisciplinary experience in representation of companies, financial institution, private developers and contractors and a range of transactions, such as residential projects, public buildings, commercial projects, operational assets, shopping malls, hotels, office buildings, joint ventures, acquisition of real estate companies in Israel and abroad, 'combination transactions', purchasing consortia, urban renewal and other complex transactions on private land or on Israel Land Authority properties. The firm represents a variety of parties in transactions of all kinds: companies, developers, buyers and sellers, financial institutions, tenants and landlords. Our clients include local and multinational real estate companies, investment firms, construction companies, maintenance firms, Israeli and foreign banks, development companies and private developers. We provide ongoing representation to some of the largest real estate and construction companies in Israel, and are involved in many of the largest real estate projects and deals performed by commercial companies and Israeli and foreign high-worth individuals. Our lawyers walk our clients through every step of the deal, starting with the due diligence ahead of any purchase, structuring the transaction with tax implications in mind, purchase processes including all regulatory reporting, planning procedures including preparation of city plans and the permit process, special use permits, construction and contracts with designers and various contractors, sale or letting of apartments or commercial units, and assistance in the legal relationship with buyers and tenants. The group also assists the firm’s clients with full or partial sale of the project, here too providing A-to-Z coverage. The Real Estate group also handles the financing aspects of real estate deals, and assists in complex financing transactions, sometimes representing the financing entity, such as banks and other financial institutions, and other times the developers receiving the money. The group also has experience with real-estate related debt restructuring. The real estate field embraces other legal areas as well. From time to time, real estate cases are compounded by other aspects of the law, such as securities, tax, planning and building and litigation, to give just a few examples. Our Real Estate group often works closely with other groups within our firm, such as the Tax group, in order to plan the tax implications of the real estate transaction; the Litigation group, for representation at the various planning boards, appellant committees and the courts; and the Capital Markets group with regard to issuances by real estate companies, securitization and other capital-market activities.
Operational assets are one of the primary focuses of our Real Estate group. The firm represents many companies and businesses in operational asset transactions, and in particular shopping centers and malls, hotels and office buildings. Thanks to this expertise, our clients enjoy the vast experience of the lawyers in this group, maximizing the benefits they yield on their real estate, whether in the retail sphere, hotel business, office space sector or otherwise. The firm’s longstanding involvement in the real estate sector in Israel in general and in operational assets in particular, facilitates our ability to “import” ideas from one practice area to another and offer creative solutions in complex situations. In the operational assets practice too, our firm represents some of the largest industry players, including companies, contractors, buyers and sellers, financial institutions, tenants and landlords, in projects such as shopping malls and centers, office spaces and hotel chains, and provides ongoing representation for investment firms, construction companies, maintenance firms, and commercial and private developers. The firm represents some of the most prominent real estate companies in Israel and has played a part in many of their largest real estate transactions.
All real estate deals require various forms of rights registration. Providing full service to our clients, our Real Estate group also handles the necessary registration requirements. The firm handles the following matters, whether or not in the context of construction projects:
The firm has extensive experience representing clients all aspects of real estate litigation, starting from pre-litigation negotiations, through court proceedings, including the Supreme Court and Administrative Court, and various juridical forums such as appellant committees, Supervisor of Batim Meshutafim (condominiums), arbitral tribunals, Execution Offices, etc. We represent clients in contractual and title-related disputes in real estate, client-contractor conflicts, client-contractor disputes, collateral liquidation processes, insolvencies, dissolution of real estate partnerships, claims against minority parties blocking urban renewal (pinui binui and Tama 38), construction defect claims, landlord-tenant conflicts, disputes between rights holders in residential buildings, disputes regarding realtor services, administrative planning and building disputes, real-estate related torts, improvement levy (hetel hashbaha) processes, levy procedures, proceedings vis-à-vis the Israel Land Authority, proceedings before the Supervisor of Batim Meshutafim (condominiums), land tax disputes, and more. The firm has represented both local authorities and land owners in many eminent domain procedures (also known as expropriation or compulsory purchase), both in the courts and before land assessors appointed to decide such conflicts, including all related negotiations. Our Litigation group has acquired its special real-estate expertise over many years of representation in disputes and complex litigation in which our lawyers represented developers, contractors, public and private companies, banks, owners and tenants of large operational assets, and local and central government authorities.
Tax implications of real estate transactions can prove to be exceptionally challenging. The firm is among the only ones in Israel that prides, in addition to a thriving real-estate practice, representation and consulting on related tax matters. We offer our clients advice on all real estate deals, starting in the pre-deal stages in which we help our clients weigh all the alternatives and plan the best tax structure, through pre-rulings from the tax authorities, performance of the deal, and preparation and filing of the necessary reports to the Land Tax Authority. The firm also assists with the negotiations with the government in order to fix tax rates in large-scope real estate projects.
Yigal Arnon & Co. has a very active cross-border corporate real estate practice. We have gained much experience working with Israeli, foreign and multinational clients, helping them identify and maximize their commercial real estate opportunities outside of Israel, with a focus on the hotel industry. The firm negotiates and drafts asset management contracts and joint venture documents, and has participated in numerous highly complex cross-border transactions. Thanks to our network of connections across the globe, which includes ties will local real estate lawyers, we can quickly and easily put together an experienced, multidisciplinary team that enables our clients to successfully complete their cross-border real estate transactions.
Urban renewal is one of the key growth engines of Israel’s real-estate sector, and given the scarcity of available land in city centers and the aging of buildings and neighborhoods, will gain even more importance in the years to come. Yigal Arnon & Co. has, for a long time now, been developing integrative capabilities with a focus on urban renewal projects. These deals are complex by their very nature. Firstly, they involve different legal fields: real estate, planning and building, tax, banking and finance, and litigation before the courts and various other tribunals; Secondly, these are multi-party transactions, with each party having its own, special financial and other interests; And thirdly, each project has its own attributes and the business and legal solution must be tailored anew for each one. Our familiarity with the financial and legal concerns and interests of the key players in the urban renewal scene, e.g., the needs and concerns of home owners; developer’s limitations and constraints; regulatory planning requirements; requirements of financing banks; and the complex tax arrangements – enables us to lay down practical and efficient ways to obtain our clients’ needs. The teams dedicated to urban renewal have a long and successful track record with transaction planning, representation vis-à-vis the planning authorities, tax authorities and the banks. The firm also assisted in forming the binding regulatory framework for bank financing of Tama 38 renewal projects. Although most of our clients are developers and contractors, we have also represented many home owners in urban renewal projects.