Rafael Molina is a partner in the Madrid office of Latham & Watkins and a member of the Corporate Department. Mr. Molina has over 20 years of experience advising Spanish and international investors, developers, financial institutions, and promoters on a wide range of real estate transactions and corporate matters.

Mr. Molina represents clients in their most sophisticated and high-end real estate transactions, as well as in restructurings and distressed situations. He regularly advises global private equity houses and investment funds on real estate as an asset class and related large-scale financing work.

Mr. Molina leverages broad experience to negotiate major lease and management agreements related to retail and leisure centers, office buildings, corporate headquarters, and hotels.

Mr. Molina’s recent signature experience includes advising:


  • Activum in the sale of the Hard Rock Hotel in Madrid to Arlaes Management
  • Activum in the acquisition of Hotel Nobu, located in Barcelona’s emblematic Torre Catalunya, from Selenta Group 
  • Pradera in the acquisition of a portfolio of six hypermarkets and retail galleries leased to Eroski
  • Blackbrook Capital in the acquisition of a portfolio of 22 supermarkets
  • Cerberus in the acquisition of 80% of BBVA´s real estate business
  • Apollo in the creation of a hotel platform and the acquisition of several hotels by said platform, including a hotel complex in Málaga from Meliá Hotels International
  • Cerberus in the takeover bid for 100% of the shares of Optimum RE, a Spanish REIT    
  • Intriva Capital Partners in the acquisition of the Hotel Byblos in Malaga from listed company Aycos Grupo Inmobiliario       
  • Tristan Capital Partners in its joint venture with Acciona for the development of an office complex in Barcelona
  • Cerberus in the acquisition of three logistic real estate assets located in different regions of Spain with a total built area of c. 100k square meters from Invermik


  • Activum in the financing for the development of the first Hard Rock Hotel in Continental Europe
  • A syndicate of lenders in the financing for the acquisition of Aelca by Vía Célere (a portfolio company of Värde Partners)
  • A financial entity in the €150 million equipment lease receivables financing for Portuguese operator   
  • Activum in the credit facility provided by Banco de Sabadell to refinance the acquisition costs and finance the development costs of the Hampton by Hilton Hotel in Barcelona
  • Pictet in the acquisition and subsequent financing of two buildings located in Paseo de la Castellana (Madrid)

Real Estate Portfolios

  • Cerberus in the acquisition of 80% of the entire real estate portfolio of Banco Sabadell, for approximately €3.4 billion
  • A financial entity in the acquisition of a c. €300 million portfolio of performing and sub-performing consumer loans
  • Cerberus in the acquisition of a portfolio of consumer and SMEs non-performing loans secured by c. 2,300 real estate assets from Unicaja Banco
  • Intriva Capital Partners in the acquisition of an NPL portfolio from Bankinter
  • Cerberus in the acquisition and financing of a portfolio of NPLs acquired to Kutxabank and CajaSur

Bar Qualification

  • England and Wales (Solicitor)
  • Spain (Abogado)


  • MCJ, New York University, 1991
  • LLB, Universidad de Navarra, Pamplona, Spain, 1989