Category: Press releases

Adventum Group, an investment fund manager operating internationally, has successfully closed the transaction of purchase from Savills Fund Management GmbH of the Marynarska Point 1 in Warsaw, a modern office building offering 13,000 sqm. of rentable office space. Thanks to this transaction, the Polish portfolio of Adventum’s offices has grown to above 75,000 sqm.

act BSWW advised Adventum throughout the whole purchase process. The services provided by the law firm included due diligence of the property, drafting transaction-related documents, negotiation support and transaction-related advice.

The project team was led by Marta Kosiedowska (Partner) and Marek Wojnar (Managing Partner co-heading the real estate practice of the law firm). Due diligence audit was prepared under the direction of Magdalena Banaszczyk-Głowacka (Partner). The transitional team was supported by Anna Olmińska-Kieżun (Associate).

– It is the fifth real property acquired by the fund in Poland over the last two years; Adventum International has already purchased Poznań Financial Centre (Poznań), Renaissance Plaza (Warsaw), Katowice Business Point (Katowice) and Centrum Orląt (Wrocław) – says Marta Kosiedowska, Partner at act BSWW legal & tax.

– We are delighted with the trust of our Client. We had the opportunity to assist Adventum on all those projects and we continue to advise the fund on its further ventures in Poland – says Marek Wojnar, Managing Partner at act BSWW legal & tax.

Marynarska Point 1 is a A-class office building offering 13,000 sqm. leasable area across 11 storeys.

Adventum Group is a group of boutique investment fund management companies focused on Central European real estate investments. The Group’s personnel includes highly experienced real estate professionals with CFA, NRW and MRICS qualifications, with a combined investment experience of 70+ years. The management has so far executed investments in the CEE region with a total value of over EUR 1.5bn.

The seller was represented by Dentons.

Michał Wielhorski – Managing Partner at act BSWW legal & tax – has been recommended as Notable practitioner by IFLR1000.

For nearly 20 years Michał has been advising on all types of real estate projects, including financing of real estate investments.

IFLR1000 is an international legal directory dedicated to ranking law firms and lawyers on the basis of financial and corporate transactional work.

Click here for more information.

act BSWW legal & tax has strengthened its Capital Markets practice with the arrival of a senior associate Łukasz Świątek.

Łukasz has over five years of experience in capital markets transactions, with a strong focus on tender offers, acquisitions of significant blocks of shares, delisting and IPOs/SPOs.

He also advises companies listed on the main market of the Warsaw Stock Exchange and New Connect on ongoing corporate issues, including fulfillment of disclosure obligations, communication with shareholders and supervisory authorities, conduct of general meetings and implementation of incentive schemes.

He is an author of numerous publications on the capital market and commercial law, as well as a co-author of the comments the Anti-Money Laundering and Counter-Terrorism Financing Act.

Since 2020, he has been a member of the Supervisory Board of a brokerage house, Ceres Dom Inwestycyjny S.A.

Before joining the team of act BSWW legal & tax, he worked for leading Polish law firms.

“We are delighted that Łukasz has joined our team. I am convinced that his transactional experience will translate into further growth of our practice,” says Piotr Wojnar, Managing Partner, Co-Head of Capital Markets Practice at act BSWW legal & tax.

act BSWW legal & tax has acted on behalf of Rank Progress in relation to the sale of Miejsce Piastowe retail park and the preliminary sale agreement for Pasaż Wiślany retail park in Grudziądz.

On July 29, 2021, Progress XXXVII sp. z o.o. (subsidiary of Rank Progress S.A.) entered into an agreement for the sale of 2.4963 ha of developed land in Miejsce Piastowe (near Krosno), together with a 4,752.67 m2 GLA retail park and additional developments.

On August 5, 2021, Progress XXXVI sp. z o.o. (subsidiary of Rank Progress S.A.) entered into a preliminary agreement for the sale of 1.8299 ha of developed land, together with Pasaż Wiślany retail park whose GLA is 5,188.64 m2. As long as all conditions precedent are fulfilled, the final agreement will be signed until October 28, 2021.

The law firm assisted the client at all stages of the sale of the property in Miejsce Piastowe, and with the preliminary sale agreement for the property in Grudziądz.

The project was managed by Mateusz Prokopiuk, Partner at act BSWW legal & tax. Aneta Gierzyńska, Senior Associate, was also advising on the transactions. The team was overseen by Michał Wielhorski, Managing Partner.

“These are just two out of a large number of ambitious projects on which we are advising Rank Progress,” says Michał Wielhorski.

Rank Progress is an investment and development company, listed on the Warsaw Stock Exchange.

 

Due to its dynamic growth and a number of new investments focusing on large development projects, STRABAG Real Estate is currently selling selected minor real estate assets. One of such transactions is the sale of real estate on Canaletta Street in Warsaw Downtown to the PURO Hotels chain.

Thanks to extensive experience in hotel projects, STRABAG Real Estate prepared the asset for sale together with the final construction permit.

The scope of services provided by act BSWW legal & tax included comprehensive transactional and tax advice. Previously, the law firm advised the Client on the acquisition of the property.

The project was managed by Marek Wojnar, Co-Head of Real Estate, Managing Partner at act BSWW legal & tax and by Marta Kosiedowska, Partner at act BSWW legal & tax. The tax team was led by Małgorzata Wąsowska – Head of Tax, tax advisor and Partner at the firm.

“STRABAG Real Estate is developing very dynamically – its portfolio is changing and in some cases the Client decides on disinvestment. This transaction is one of such examples and takes place in parallel to a number of acquisition projects on which we are currently advising STRABAG Real Estate” – says Marek Wojnar.

“The excellent location of the property undoubtedly proves its investment attractiveness” – adds Marta Kosiedowska.

act BSWW legal & tax advised a company from the 7R SA group on a bond issue with a nominal value of PLN 51 million. The funds obtained from the issue will serve to finance three real estate projects in Gdańsk, Katowice and Kraków. The bonds redemption is scheduled for July 2024.

The law firm advised comprehensively on the preparation of the issue documentation and establishment of collaterals, as well as on negotiations of the issue terms and conditions.

The transaction was led by Łukasz Piekarski (Partner), supported by Małgorzata Czarnecka (Associate). The project was supervised by Piotr Smołuch, Managing Partner and Head of Bonds.

act BSWW legal & tax provides comprehensive debt financing advisory services. The team has conducted more than 500 debt financing transactions with a total value of over PLN 6 billion.

act BSWW legal & tax advised Cordia Polska, a member of a Hungarian development group, on the issue of three-year A-series bonds worth PLN 68.8 million. The bond issue was arranged by Michael / Ström Dom Maklerski S.A., which also acted as the offering agent.

The bonds were launched into the alternative trading system at Catalyst. The funds obtained will support Cordia’s further expansion in Poland.

The law firm provided comprehensive advice on the bond issue documentation and collaterals, while also performing the function of the collateral agent.

The project was led by Piotr Smołuch (Managing Partner) and Sebastian Sury (Partner).

Cordia forms part of the highly capitalised, Hungarian-owned Futureal Group, one of Central Europe’s largest property development and investment groups. Cordia operates in Hungary and Romania, and has also been operating in Poland since 2014, where it has been consistently expanding its portfolio of completed and ongoing residential projects.

act BSWW legal & tax provides comprehensive debt financing advisory services. The team has conducted more than 500 debt financing transactions with a total value of over PLN 6 billion.

act BSWW legal & tax has comprehensively advised on a complex investment process involving the luxury 5-star Baltic Wave hotel in Kołobrzeg.

The team consulted MA Investment sp. z o.o. on the acquisition of 100% shares in Baltic Wave sp. z o.o., the company conducting the investment process. In addition, the acquisition of Baltic Wave sp. z o.o. was combined with the issue of bonds to refinance the company’s existing debt. The new financing structure was adjusted to the current construction schedule and the hotel’s intended standard.

The law firm also advised on execution of the general contractor agreement with FB Antczak sp. z o.o., a company that has been acting as the general contractor since July.
The law firm’s team was made up of Piotr Smołuch, Managing Partner, Sebastian Sury (Partner), Edyta Krzepicka (Associate) and Arkadiusz Kocel (Associate).

“We are pleased to have participated in this complex investment process. We have been involved in it from the very beginning, so it is even more satisfying to see it come to life. The Baltic Wave Hotel is definitely a unique project in the Polish hospitality market and one of the largest in the coastline at the moment,” emphasizes Piotr Smołuch, Managing Partner at act BSWW legal & tax.

The luxurious five-star Baltic Wave Hotel, which is emerging under the Crowne Plaza brand just 200 meters from the beach in Kołobrzeg’s health resort district, will ultimately comprise 468 apartments on 14 floors. The hotel will have an infinity edge swimming pool, a luxurious spa & wellness area, restaurants and cafés, as well as modern conference space for 500 people. The hotel will operate in the self-service system.

Adventum, an investment fund operating internationally, has successfully closed the refinancing of Poznań Financial Centre. The new financing has been secured by Berlin Hyp AG.

act BSWW legal & tax advised Adventum throughout the whole refinancing process. The services provided by the law firm included drafting transaction-related documents, negotiation support and transaction-related advice.

The project was led by Marta Kosiedowska (attorney-at-law, Partner) and Marek Wojnar (attorney-at-law and Managing Partner, co-heading the real estate practice of the law firm). They were supported by Mariusz Grochowski (attorney-at-law, Senior Associate).

– We are pleased to advise Adventum on another project regarding financing of its real estate operations in Poland – says Marta Kosiedowska, Partner at act BSWW legal & tax.

Adventum is a group of boutique investment fund management companies focused on Central European real estate investments.

Berlin Hyp AG was represented in the process by Deloitte Legal.

 

We are pleased to inform, that our law firm has been recommended by IFLR1000 in Banking.

For nearly 20 years, our team has been advising on financing of the investment projects (bank, private debt and equity). The total value of financing projects on which act BSWW legal & tax has consulted is over EUR 1bn.

IFLR1000 is one of the renowned international directories, a guide to the world’s leading law firms specializing in financial law.

Click here for more information.