Real Estate

Our Practice

Our dedicated Real Estate Department offers a comprehensive service, working in partnership with our clients to ensure commercial solutions at all times.  With extensive experience of all aspects of the property market we understand the industry and its ever changing environment.

Our priority is the consistent delivery of the right client outcomes in these challenging times.

The Real Estate Department represents a broad spectrum of clients including banks, state agencies, semi-state bodies, private individuals, large and small corporates and both indigenous and large multi national retailers.  The department is very active in drafting and negotiating commercial leases and represents many international corporates investing in Ireland for the first time.

Current Issues

The real estate market in Ireland, lead by the residential sector, peaked in 2006.  The fall in economic activity, compounded by the global financial crisis, has resulted in a fall in market activity, and values, that has been dramatic. 

Downward pressure on retail rents has been an obvious measure, in the real estate sector, of the fall in consumer confidence and economic activity.  Development land values have also been severely affected and general  investment activity has fallen away.

A key concern, is the availability of bank funding.

The Government has now had the proposed legislation for the National Asset Management Agency passed by both Houses of the Irish Parliament.  The primary objective of NAMA is to take non performing loans from banks which have received Government assistance in order to allow those banks to operate normally.

As a result of the banking crisis the Real Estate department has been engaged;

(i) in conjunction with the Firm’s Financial Services Department, in the review and restructuring of loans secured on property;

(ii) in several significant receiverships in support of the Firm’s active insolvency practice;

(iii) acting for existing retail clients actively pursuing additional sites on attractive current market terms;

(iv) acting for existing retail clients in restructuring their portfolios and lease terms and conditions;

(v) in providing strategic ‘trouble shooting’ for landlords, tenants and property owners generally;

(vi) in reviewing existing contracts;

(vii) advising investor clients in preparation for market recovery.

The Department has particular expertise in the retail sector and acts for several well known retailers.  The Department is actively expanding its practice in this area.

The Department plays an important role in the Firm’s renewable energy team which has a market leading practice in the area.

To find out more about how the Mason Hayes+Curran Real Estate team can assist you with your real estate issues please contact one of the team members shown below.

Partner
Partner
Partner
Consultant
Partner