K&P has successfully advised on the sale of an office building located in the centre of Warsaw
The office building at ul. Piękna 20 is located in one of the most prestigious neighborhoods, on the crossroads of ul. Mokotowska, ul. Krucza and ul. Piękna. The building offers over 15,000 square meters of high quality office space and retail units at ground floor level. The building was recently refurbished and the main tenant is the Polish Financial Supervision Authority (KNF).
The transaction was executed by way of sale of all shares in the share capital of
SO SPV 57 sp. z o.o. – the owner of the building, by IB6 Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych. The shares were purchased by an entity belonging to the Generali group, the global financial and insurance leader.
The K&P team advised the Griffin Real Estate group at the stage of preparation of the transaction, as well as on conclusion of the preliminary share purchase agreement and on the closing of the transaction.
The scope of services provided by K&P comprised: transactional, corporate, real estate and financial advisory.
The K&P team was led by Rafał Rapala, Senior Partner, and Kacper Czubacki, Senior Associate.
The K&P team was comprised of lawyers from the real estate department led by Paweł Cholewiński, Partner: Marcin Rżysko, Counsel, Malwina Jagiełło, Associate, and Kamil Wróblewski, Associate, as well as lawyers from the corporate department: Karol Połosak, Counsel, and Sylwia Mizera, Associate.
Moreover, the banking & finance team led by Olgierd Świerzewski, Partner, advised on the financing of the target company – SO SPV 57 sp. z o.o. The team comprised: Daniel Kozłowski, Senior Associate, and Agnieszka Serzysko, Counsel.
The purchaser was supported by White & Case M. Studniarek i Wspólnicy – Kancelaria Prawna sp. k., in addition to: JLL, PWC, Baker McKenzie and Gleeds.
The purchase of the building is consistent with the developmental strategy of Generali Real Estate pertaining to office and commercial real estate in major European cities. Generali Real Estate currently manages a portfolio of such real estate of estimated value of EUR 1 billion in Central and Eastern Europe.