Mușat & Asociații este întotdeauna cu un pas înainte în ceea ce privește evoluția cadrului legislativ și a mediului de afaceri, anticipând nevoile clienților și acționând că un deschizător de drumuri în domeniu.
See All The Practices

Mușat & Asociații is an acknowledged leading firm in the Real Estate & Construction practice, having advised an impressive portfolio of clients, including developers, retailers, investors, financial institutions and funds. In a resurgent real estate market, we have been advising on major deals and continue to undertake a high level of transactional work, which places our team in the “leading” tier position on the market. Our legal services are based on an excellent understanding of our clients’ needs and business and the highly-professional and result-oriented attitude of our lawyers has brought professional recognition from experienced and prestigious legal guides and publications.

We continue to have a dynamic presence in the real estate market, while our Real Estate & Construction team has a high reputation and profile in providing a full range of legal services and assistance for national and international clients, including on the acquisition of land, forestry land, construction and maintenance, permitting aspects, residential, office and commercial projects, as well as mixed-use scheme developments and asset management work. Clients benefit from our significant experience in orchestrating complex, long-term projects that involve drafting documentation, facilitating negotiations, navigating legal and regulatory issues.

Our team has successfully managed to create a prosperous conjunction of the Real Estate & Construction practice with other areas of practice, such as corporate and commercial, infrastructure, PPP, taxation. We also pride ourselves with our knowledge of international and internal financial mechanisms linked to real estate transactions, as well as security title ramifications related to property.

Practice Highlights.

A selection of our deal highlights include advising:
  • A leading German retailer, in connection with numerous EUR multimillion retail investment projects in Romania, including related real estate acquisitions during its continuous expansion process in various municipalities, such as Bucharest, Constanta, Brașov, Baia Mare, Bârlad, Târgoviște, Sibiu, Iasi, Ploiesti, Galati, Craiova.
  • One of the oldest and strongest Romanian companies in the apparel sector, in connection with i) the sale of its business to an Israeli investor with global presence, ii) the sale of its factory and afferent land in Bucharest to a major real estate developer, as well as iii) various matters concerning its real estates in Romania, including restrictions and interdictions related to restitution claims matters.
  • A world-class manufacturer in the automotive industry, in connection to its expansion in Romania, including on the purchase of their production facility, a logistic centre located in Cluj County.
  • A leading Swiss specialty chemicals company, on all Romanian legal aspects of its EUR 5.3 billion acquisition of another chemicals company from a global private equity firm.
  • A local real estate developer, on i) the acquisition of a land plot located in Ilfov County designated for a major development project and ii) general assistance on the next steps in the real estate development phase.
  • A leading international player in the construction products sector based in Ireland, in relation to the acquisition of all real assets of a major construction company. The acquisition, most probably the biggest deal in the field of constructions, took place in the context of the planned merger between the two companies.
  • One of the European leaders in the automotive industry, in connection with the expansion of its business in Eastern Europe through a brownfield acquisition in Romania.
  • A group of companies specialized in logistics and warehousing, on i) the sale of a logistics park located near Bucharest to a well-known real estate developer and ii) the sale of a land plot designated for a new logistic project to the same real estate developer.
  • An important developer in the renewable energy sector, in relation to the sale of one of its wind power projects (estimated to have the biggest installed capacity in Romania, so far).
  • A global logistics company from the USA, on the sale of its distribution centre in Bucharest (land and warehouse/offices) to a major real estate player.
  • A leading Central European investment group from Czech Republic, on the EUR 300 million acquisition of the largest pharmacy chain in Romania. Mușat & Asociații coordinated the transaction in all phases, including due diligence on over 30 companies within the group (including an extensive assessment on the immovable assets owned and used by the target companies).
  • A leading Spanish real estate developer, in connection with various real estate developments in Bucharest and Cluj, with an investment value of over EUR 300 million, including with respect to pre-closing / post-closing documentation and permitting issues.
  • A global manufacturing company, in connection with its spinoff of one of its businesses, as well as the restructuring of its portfolio of assets located in Romania, including an extensive legal assessment on the real estate assets held by the client’s subsidiaries in Romania and assisting the client with the fulfillment of various post closing conditions.
  • A leading real estate developer, in connection with a wide range of legal issues related to the development of its innovative project – a major development in northern Bucharest, including a comprehensive and multifaceted due diligence process, acquisition of lands, negotiation and conclusion of title insurance, as well as with the further transfer of a vacant plot of land and afferent permits and authorizations to an investment fund focused on real estate developments.
  • The Romanian subsidiary of a major German car manufacturer, in connection with the implementation of a project consisting in the development of a manufacturing plant, the overall project value amounting to EUR 270 million.
  • A Greek-owned investment group, with regard to the development of the largest shopping center in Bucharest, the total value of the investment exceeding EUR 300 million.
  • The real estate development branch of an important financial group, in relation to various real estate residential and mixed-use scheme developments in Romania, exceeding EUR 250 million, including advice on a variety of partnerships with private and public entities and the concession legal regime.
  • A Romanian investment company, part of a French group, in connection with the development of two shopping centers in Pitesti and Galati, projects with a value of over EUR 160 million.
  • A group of E.U. real estate investors, in connection with the sale of a 26,000 sqm land plot in (downtown) Bucharest, for the development of a EUR 80 million real estate residential and commercial project.
  • A subsidiary of a diversified group engaged in property management, logistics and multi-sited operations in collaboration with the largest fast-food chain, in connection with the acquisition of the chain’s holdings in Romania. Our legal assistance included an extensive due diligence report focused on real estate and regulatory aspects, including the review of ownership titles over real estate assets used by the chain in the performance of its activity.
  • A major real estate company, in connection with the development of the well-known office and commercial project located at the “kilometer 0” of Bucharest, including advising on various permitting matters and contractual issues with third parties.
  • An important Spanish financial group in relation to financing various multimillion real estate acquisition and development projects in Romania, totaling over EUR 200 million.
  • A French chain of shopping centers, in connection with the sale of the two malls located in Pitești and Galați, in a transaction valued at EUR 150 million.

Other representative mandates of our Real Estate & Construction practice includes advising:

  • The European Bank For Reconstruction And Development (EBRD), in connection with a multimillion facility granted to entities in the CEE of a leading construction materials manufacturer, with the purpose of financing the cost related to the construction of a new metallic tiles production and storage unit and costs related to the greenfield investment for a sandwich panel production facility.
  • A German-owned real estate investor and developer, part of an international group active in the Czech Republic, Slovakia, and Romania since 1991, in relation to the restructuring of its business relationship with its biggest tenant, for which the company acts as an exclusive developer.
  • The world leader in construction and maintenance of infrastructure from France, with regard to renegotiating and restructuring two FIDIC agreements concluded with the Romanian National Company for Motorways and National Roads, totaling over EUR 190 million.
  • A major South Korean bank, in connection with various legal issues pertaining to financing five photovoltaic projects located in three different regions of Romania, including an assessment of complex legal issues in the real estate field.
  • A Romanian state-owned company in the energy sector, with an extensive analysis of the real estate assets and relevant liabilities, while the mandate involved reviewing numerous ownership titles for lands, as well as strategic buildings and ancillary constructions.
  • A leading Italian energy company, in the process of evaluating the status of over 350 land plots used by its subsidiaries in Romania and the title related to these lands.
  • A leading company owning, operating, and developing shopping centers from Austria, in real estate issues referring to the dispute between the company and an Austrian lender.
  • A consortium led by a British oil and gas company, which controls a natural gas field in Azerbaijan, in connection with various legal real estate matters arising from the development of a gas pipeline, as well as in relation to specific infrastructure-related issues deriving from the development of the project.
  • An Israeli investment company, in connection with the EUR 78 million acquisition of the remaining quota in a major real estate project in Bucharest, consisting of a shopping mall and five stand-alone office buildings, with an investment value of approx. EUR 300 million.
  • A global leader in water, hygiene, and infection prevention solutions and services, with respect to its ongoing difficulties (including from permitting and urbanism perspective) concerning certain properties pertaining to a company within its group, with high importance on the manufacturing process in Romania.
  • A leading worldwide provider of integrated human resources, benefits, and investment consulting services, in connection with its relocation and signing of a corporate lease in a landlord market (Iași City).
  • A Romanian real estate developer, in connection with the take-over of a hotel complex, following a public tender process organized during the judicial reorganization of the seller.
  • A major Chinese development bank, in connection with the financing of three companies holding and operating three of the largest photovoltaic power projects in Romania, in the context of a multinational project finance involving a number of affiliated companies and thus local jurisdictions.
  • A leading company in the pallets industry from Germany, with respect to its entering the Romanian market, by acquiring an existing facility developed under a local brand in the Moldavian part of the country.
  • Two related companies in the real estate sector, in connection with their investment in a number of real estates in Romania.
  • An important real estate developer, currently engaged in a mixed project – educational and residential – to be developed nearby Bucharest, with respect to a wide range of real estate matters related to the development of the project, including permitting aspects.
  • A well-known real estate company managing one of the largest industrial parks near Băneasa airport, in connection with an internal due diligence process referring to one of the properties in its patrimony.
  • A Romanian development company affiliated to an international banking group, in connection with the development of a large multi-use real estate project in Bucharest, entered into with a major Romanian bank. The project included the headquarters of the bank and seven skyscrapers, the total value of the investment being over EUR 100 million.
  • The largest Italian energy producer, in connection with the transfer of its interests held in a number of Romanian companies. Our legal assistance included an extensive due diligence report focused on real estate and regulatory aspects, including the review of ownership titles over real estate assets.
  • One of the biggest real estate developers in Romania, with the preparation of a legal assessment on the concession rights, risks, potential remedies, and defenses in relation to a concession agreement concluded for one of its main office buildings in light of a potential sale of property.
  • The flagship listed business services and industrial company of a Canadian asset management firm, in connection with the USD 13.2 billion acquisition of 100% of an energy infrastructure development company.
  • An important entity specialized in pipeline and plant construction for the chemical and petrochemical industry, on its relocation to a new building to be erected. The legal assistance included the drafting and negotiation of the lease agreement, as well as a legal assessment on the regulatory matters pertaining to the development project for the future offices.
  • An international real estate investment trust, in connection to the indirect acquisition of the Romanian subsidiary of an Italian company owning, inter alia, an important number of land plots in Romania.
  • One of the largest logistics companies in Romania, for the purpose of obtaining a title insurance over the logistic center erected in Hunedoara county and the land underneath.
  • The world’s second-largest appliance maker, in connection with a designing agreement relating to an office space in Bucharest city center. Our mandate involved not only the review and negotiation of the designing agreement but also advice related to regulatory matters.
  • A non-profit, non-governmental organization promoting standardization, with the sale of an office building in its patrimony, not yet finalized. The mandate raised complex issues in terms of legal conveyance of the ownership right from a fiscal and urbanistic perspective.
  • A major Australian mining company, in connection with the privatization of a state-owned company with the biggest copper reserves in Romania. Our involvement consisted of conducting a comprehensive due diligence exercise entailing the analysis of complex documentation attesting to the ownership and the administration rights.
  • A major international express and mail delivery services company, in connection with the establishment of its main headquarters in a business center. The mandate included an extensive legal due diligence with respect to the legal status of the premises envisaged to be leased by the client.
  • A major energy company based in Italy, with respect to the legal status of the use and easement rights granted in favour of the distribution operator under current energy legislation. Our mandate included an extensive analysis on the general legal regime applicable to use and easement rights, as opposed to the one provided under energy legislation, the registration formalities, inconveniences arising in practice, potential risks and related remedies.
  • A Romanian subsidiary of an international oil and gas exploration company, in relation to multiple land acquisitions in the Black Sea region, meant to support its drilling activity in the area.
  • An Austrian corporate finance company, in connection with the development of a large office and residential project totaling over EUR 130 million.
  • One of the largest funds in Europe, in relation to the acquisition of a hotel company and several other real assets in Romania, amounting to over EUR 100 million.
  • A bank part of an international investment group, operating in 24 countries, on the amendments to a security package, part of a multimillion euro facility previously granted to a local real estate developer for the construction of a large office building.
  • A major Belgian real estate developer, in connection with the development and sale of various office buildings located in Bucharest, with a value exceeding EUR 100 million.
  • A major real estate investment company, in connection with the EUR 33 million acquisition of a business center.
  • A British private equity firm, in relation to the acquisition of a shopping center in Bucharest, for a total transaction value of EUR 26.5 million.
  • A major real estate developer from Israel, in connection with the negotiation and conclusion of a EUR 25 million FIDIC-based construction contract with one of the biggest Romanian contractors, in respect of a residential project in Bucharest.
  • A Romanian investment company, in connection with the development of a EUR 25 million shopping center in Ramnicu-Valcea.
  • An Israeli hotel investment company, in respect of the EUR 18 million acquisition of four hotels in the center of Bucharest.
  • A major European real estate developer, in connection with the acquisition of an important hotel.
  • A shareholder of a large Romanian logistics center, for land acquisition matters and the conclusion of title insurance.
  • A major international express and mail delivery services company, in connection with an important real estate acquisition and the development of its operational centers near Otopeni airport.
  • A leading real estate developer from Turkey, in relation to various legal matters concerning the operation of two of the most important shopping centers in Bucharest.
  • A major real estate developer, in connection with an internal legal assessment over the ownership chain related to the land underneath one of the most important malls in Bucharest, including an in-depth analysis over the ownership title, together with an assessment of the good-faith of the acquirer and compliance with the legal formalities for ensuring an ostensible title for third parties’ acknowledgment, and tailored legal strategies in case of potential risks.
  • A worldwide well-known manufacturer of power tools from the USA, in relation to securing a superficies right over multiple plots of land owned by another intragroup company, for the purpose of developing a major project comprising the new headquarters for the company, offices and storage facilities.
  • A subsidiary of a global leader in consulting, technology, and outsourcing services, in the relocation of its offices to Iași.
  • One of the world’s largest clothing retailers, during its international expansion. Our advice referred to a diverse range of legal aspects arising out of the long-term lease agreements concluded by the fashion retailer with various landlords countrywide, and included revision of contractual terms and negotiation of lease conditions.
  • The Romanian subsidiary of a worldwide leading healthcare company, in relation to the establishment of its headquarters and operating offices in Romania, including the preparation of necessary documents and lease agreements concluded by its products division.
  • The Romanian subsidiary of a leading Turkish poultry producer. Our mandate included an extensive analysis of the ownership chain and encumbrances created over the property, also having in view the applicable legislation for the acquisition of property during an insolvency procedure.
  • A consortium of leading banks and investment firms, in connection with the initial public offering (IPO) for the sale of 105% of the share capital of an energy company, under the coordination of the Ministry of Economy through the Department for Energy. Among other legal services, our mandate also included the performance of a due diligence exercise focused on the ownership right over the lands used by its subsidiaries.
  • The company operating the Romanian national television, in the process of an extensive assessment of its assets and ongoing contracts.
  • A publicly traded American multinational agrochemical and agricultural biotechnology corporation, in relation to the major restructuring process of its group subsidiaries.
  • A Romanian real estate development company, in connection with various real estate legal issues related to immovable properties located in different regions of Romania, including an extensive assessment of the company’s business and assets, with a special focus on real estate assets held by the client in Romania.
  • A leading global producer of industrial minerals, in connection with the acquisition of the entire stake of a major Romanian chemicals company, one of the main players on the Romanian market, acting in the field of raw materials import and distribution for the chemical and food industry.
  • One of the leaders in the global grains, oilseeds, and sugar supply chains, in the process of acquiring land in Romania, strategically located, for the purpose of its further intended expansion of business.
  • A major investment management company, in connection with retrieving various debts contained within an NPL portfolio acquired from a Romanian bank. As part of the properties securing the debts have suffered due to the owner being evicted in court, our mandate focuses on recovering the insurance proceeds resulting from the loss of title insured 10 years ago by a title insurance company.
“The team has been visible in some of the most high-value mandates over the past year and it covers a broad range of transaction and construction-related mandates spanning both commercial and residential real estate.”
Chambers & Partners
“The team has strong knowledge of the markets, which was important for us. The lawyers know the business, they are confident and they helped us in a number of cases. I am really happy with Mușat.”
Legal 500
“The 20-strong real estate team at this highly regarded outfit has been extremely active over the past few years. Clients praise the lawyers’ straightforward approach and clear advice.”
Chambers & Partners
Mușat & Asociații provides “fast, concise and well-prepared” advice to a number of high-profile clients.
Legal 500
Clients appreciate the firm's comprehensive support, with one highlighting that the lawyers “consistently work extremely well”.
Chambers & Partners
Mușat & Asociații: “A firm with international standards and an important local player.”
Legal 500
“The real estate team is highly qualified and experienced and offers best advice as to the legal strategies. The lawyers are also very commercially oriented.”
Legal 500
“We have benefited from the team’s advice at every stage of the transaction and are very satisfied with the results”, commented one client.”
Chambers & Partners
“The practice is able to tackle a variety of real estate acquisitions with ease.”
Chambers & Partners
Mușat & Asociații’s lawyers are recognized for the “skilled handling of large and complex real estate transactions”.
Chambers & Partners
“The Real Estate team is flexible and informed and has made a strong impact on international clients.”
Chambers & Partners
The lawyers are valued for their “forthright approach” and for “always accommodating the needs of the client”.
Chambers & Partners
Sources laud its “top-notch advice and impeccable drafting under the tightest time pressure”.
Chambers & Partners
Highly Recommended by Legal 500 and Chambers Europe in real estate & construction.
Mușat & Asociații has “a dominant share of the country's business” and “garners much respect from its competitors and clients”.
IFLR 1000
Clients believe the firm to be “professional, with a great team of lawyers displaying depth of knowledge”.
Legal 500
Clients of Mușat & Asociații appreciate the firm’s “ability to provide efficient legal services but also proactively meet the client’s needs”.
Legal 500
“The team is innovative, creative and dedicated to finding the best solution.”
Chambers & Partners
Clients recommend Mușat & Asociații for “its impressive business attitude and the energy and time it devotes to clients”.
Chambers & Partners
Clients are impressed by the team at this “incredibly responsive” firm, noting that “it seems like someone is available 24 hours a day”.
Chambers & Partners
“Easily compete with any international firm in terms of presence, expertise and vision.”
Chambers & Partners
“My impression of the firm is excellent; response times have been very good and the lawyers' use of English is first-class.”
Chambers & Partners
One client comments that the “service they provide is excellent and we always feel confident that what we ask from them will be delivered”.
Chambers & Partners
“High level of professionalism, good knowledge of the legislative history of Romania in the real estate field for the last 30 years.”
Legal 500
Interviewees report that the members of the team are “experienced, responsible and detail-oriented”.
Chambers & Partners
Interviewees say they are drawn to the firm for its “responsiveness and client-focused approach”.
IFLR 1000
Muşat & Asociaţii has a “strong local presence in Romania” coupled with “an impressive ability to coordinate a cross-border deal”.
Chambers & Partners

Attorneys

Gheorghe Mușat

Mergers & Acquisitions/Privatisations
Banking & Finance
musat@musat.ro

Monia Dobrescu

Real Estate & Construction
Banking & Finance
 monia.dobrescu@musat.ro

Mădălina Trifan

Real Estate & Construction
Banking & Finance madalina.trifan@musat.ro

Cristian Cepeși

Banking & Finance
Mergers & Acquisitions cristian.cepesi@musat.ro

Ana Maria Burada

Litigation & Arbitration
Infrastructure & PPP/Public Procurement
 anamaria.burada@musat.ro

Roxana Mihăilescu

Corporate & Commercial Law
Administrative Law roxana.mihailescu@musat.ro

Georgiana Negulescu

Litigation & Arbitration
Administrative Law
 georgiana.negulescu@musat.ro

Iuliana Negură

Litigation & Arbitration
Administrative Law
 iuliana.negura@musat.ro

Evelina Stoian

Real Estate & Construction
Banking & Finance
evelina.stoian@musat.ro

Daria Buhuș

Real Estate & Construction
Banking & Finance daria.buhus@musat.ro
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