Kochański & Partners advises Echo Polska Properties on a sale of office buildings to Griffin Premium Real Estate
Kochański & Partners has advised Echo Polska Properties on the sale to Griffin Premium Real Estate of the following office buildings with a total leasable area of 71,200 square meters: A4 Business Park in Katowice, Tryton Business House in Gdańsk and West Gate in Wroclaw. The advice by Kochański & Partners involved a comprehensive due diligence of the real properties.
On October 3, 2017, Griffin Premium Real Estate, as the purchaser, entered into a preliminary share purchase agreement with Echo Polska Properties (Cyprus) PLC and Echo Polska Properties N.V., as the sellers, in respect of 100% of shares in subsidiaries of the sellers, being general partners and limited partners in the following companies: (i) A4 Business Park – Iris Capital spółka z ograniczoną odpowiedzialnością spółka komandytowa; (ii) Emfold Investments spółka z ograniczoną odpowiedzialnością spółka komandytowa; and (iii) Echo – West Gate spółka z ograniczoną odpowiedzialnością spółka komandytowa, respectively holding legal titles to real properties located in Katowice, Gdansk and Wroclaw, where the following office building complexes are situated: A4 Business Park, Tryton Business House, and West Gate Lotnicza 12. The agreed gross asset value (GAV) for the properties is approx. EUR 160 million.
In accordance with the preliminary agreement, Griffin Premium Real Estate will purchase all shares in the subsidiaries and, consequently, in the real estate companies holding legal titles to the said properties, upon the conclusion of the final agreement for the purchase of shares in the subsidiaries, to be executed by January 31, 2018.
Kochanski & Partners’s team was led by Rafał Zięba – Managing Partner and Kamil Osiński, Head of the Real Estate Practice, and included Marcin Rżysko (Real Estate), Paweł Mardas (Corporate), Szymon Gałkowski (Banking&Finance), Paweł Gruszecki (Intellectual Property).