Fieldfisher advised on more than £2 billion worth of real estate finance transactions in 2020, up from £1.2 billion in 2019, notwithstanding an unfavourable climate for many real estate asset classes since the onset of the Covid-19 pandemic more than 12 months ago.
Fieldfisher's real estate finance team advised on a variety of transactions across the UK and Europe. High-value office buildings located in major cities, nationwide portfolios of light industrial and retail warehousing assets servicing the growing demand for online retail emerged as the predominant asset classes, together with residential development schemes meeting the demand for modern and affordable housing.
"Twelve months ago we began adapting to the ever changing landscape the coronavirus pandemic imposed on our social freedoms, our working patterns, physical geography and the type of work that our clients engaged us to assist with," said Christian Francis, a Partner in Fieldfisher's banking group and real estate finance team.
"Clients were keen to hear our views on what this landscape shift would mean for the prospects of the traditional real estate asset classes in both the short and medium to long term."
Mr Francis added that whilst prime assets in core locations will continue to attract strong investor interest, there is no doubt that certain sectors will continue to struggle.
"The reality is that sectors such as the high street will undoubtedly struggle to regain anything near their former glory given the predominance of omni-channel retailers in secondary locations and the growth of on-line retailers dependent on strong and local logistical support," he said.
However, Mr Francis remains optimistic for another sector greatly affected by the pandemic.
"The leisure and hospitality sector, one of the worst hit sectors, should rebound as travel restrictions are lifted following the success of the vaccine programme," he said.
"Investor interest in this sector continues to remain strong in premium locations and should translate into a growing appetite for those assets in the short to medium term, in particular from overseas investors."
ENDS
About Fieldfisher
Fieldfisher is a European law firm with market leading practices in many of the world's most dynamic sectors. We are an exciting, forward-thinking organisation with a particular focus on technology, finance & financial services, energy & natural resources, life sciences and media.
Its European network of offices supports an international client base alongside our Silicon Valley and China colleagues. Clients choose to work with us because we deliver commercial, pragmatic and innovative solutions through our exceptional legal expertise and experience, on time and on budget.
Our network has more than 1,900 people working across 25 offices providing highly commercial advice based on an in-depth understanding of our clients' needs.
We operate across our offices in Amsterdam, Barcelona, Beijing, Belfast, Birmingham, Bologna, Brussels, Dublin, Düsseldorf, Frankfurt, Guangzhou, Hamburg, London, Luxembourg, Madrid, Manchester, Milan, Munich, Paris, Rome, Shanghai, Turin, Venice and Silicon Valley.
For further information on Fieldfisher: jonathan.macpherson@fieldfisher.com or +44 207 110 0867
Fieldfisher's real estate finance team advised on a variety of transactions across the UK and Europe. High-value office buildings located in major cities, nationwide portfolios of light industrial and retail warehousing assets servicing the growing demand for online retail emerged as the predominant asset classes, together with residential development schemes meeting the demand for modern and affordable housing.
"Twelve months ago we began adapting to the ever changing landscape the coronavirus pandemic imposed on our social freedoms, our working patterns, physical geography and the type of work that our clients engaged us to assist with," said Christian Francis, a Partner in Fieldfisher's banking group and real estate finance team.
"Clients were keen to hear our views on what this landscape shift would mean for the prospects of the traditional real estate asset classes in both the short and medium to long term."
Mr Francis added that whilst prime assets in core locations will continue to attract strong investor interest, there is no doubt that certain sectors will continue to struggle.
"The reality is that sectors such as the high street will undoubtedly struggle to regain anything near their former glory given the predominance of omni-channel retailers in secondary locations and the growth of on-line retailers dependent on strong and local logistical support," he said.
However, Mr Francis remains optimistic for another sector greatly affected by the pandemic.
"The leisure and hospitality sector, one of the worst hit sectors, should rebound as travel restrictions are lifted following the success of the vaccine programme," he said.
"Investor interest in this sector continues to remain strong in premium locations and should translate into a growing appetite for those assets in the short to medium term, in particular from overseas investors."
ENDS
About Fieldfisher
Fieldfisher is a European law firm with market leading practices in many of the world's most dynamic sectors. We are an exciting, forward-thinking organisation with a particular focus on technology, finance & financial services, energy & natural resources, life sciences and media.
Its European network of offices supports an international client base alongside our Silicon Valley and China colleagues. Clients choose to work with us because we deliver commercial, pragmatic and innovative solutions through our exceptional legal expertise and experience, on time and on budget.
Our network has more than 1,900 people working across 25 offices providing highly commercial advice based on an in-depth understanding of our clients' needs.
We operate across our offices in Amsterdam, Barcelona, Beijing, Belfast, Birmingham, Bologna, Brussels, Dublin, Düsseldorf, Frankfurt, Guangzhou, Hamburg, London, Luxembourg, Madrid, Manchester, Milan, Munich, Paris, Rome, Shanghai, Turin, Venice and Silicon Valley.
For further information on Fieldfisher: jonathan.macpherson@fieldfisher.com or +44 207 110 0867