Category: Press releases

act BSWW consulted Strabag Real Estate on a transaction involving the sale of a downtown Warsaw hotel.

Motel One at Tamka street features 12,700 m2 of usable area, eleven levels and over 300 rooms. The Fryderyk Chopin Museum is located nearby.

The scope of the law firm’s services included due diligence audit and acquisition of land on which the hotel was supposed to emerge, as well as drafting and negotiations of the construction works agreement, subsequently followed by the building’s forward purchase.

The project was handled by Marek Wojnar (attorney-at-law and Managing Partner at act BSWW) and Marta Kosiedowska (legal counsel, Partner).

“This is Poland’s first Motel One (developed by our Client) that follows the new standards set by this hotel chain,” says Marta Kosiedowska.

“This is yet another large transaction that we have handled for Strabag Group. It gave us an extra boost of satisfaction since it was carried out in the hotel property market that requires vast knowledge and extensive skills. We are pleased that that the Client placed its trust in us with respect to this project that turned out to be a success,” adds Marek Wojnar.

Adventum, a real estate investment fund operating internationally, has acquired Poznań Financial Centre (PFC), marking the first investment the fund has made in Poland.

act BSWW was advising Adventum throughout the transaction involving the acquisition of shares in PFC. The scope of legal services included a due diligence audit of the real estate, preparation of transaction-related documents, as well as support in negotiations and transaction advisory.

The law firm’s project team was made up of Marek Wojnar (Managing Partner, attorney-at-law), Marta Kosiedowska (Partner, legal counsel), Mateusz Prokopiuk (Senior Associate, attorney-at-law) and Katarzyna Góra (Senior Associate, attorney-at-law).

“We appreciate having been given the chance to advise Adventum on their first acquisition in Poland. We hope it is the first in a string of successful projects,” says Marta Kosiedowska.

“Supporting a new player entering the Polish market is especially exciting. We are happy to be handling the Client’s subsequent transactions,” adds Marek Wojnar.

Poznań Financial Centre is an office building situated in the Old Town of Poznań. The seventeen-floor building has 18,000 sq.m. of gross leaseable area.

act BSWW has consulted on Rank Progress’ purchase of nearly 8 hectares of investment land worth over PLN 27m net.

On June 26, 2019, Progress XVIII sp. z o.o. – S.K.A., a subsidiary of Rank Progress S.A., entered into a preliminary agreement for acquisition of ownership title to a land lot of 7.9 ha with a view to developing a shopping mall.

The property is located in Otwock. The transaction value is PLN 27.6m.

The law firm’s team was led by Michał Wielhorski, Managing Partner. It was also made up of Katarzyna Marzec – Partner, and Mateusz Prokopiuk – Senior Associate.
“Rank Progress runs a range of investment projects involving acquisition of land in promising locations in various towns and smaller cities for the purpose of retail developments intended for lease or sale,” says Michał Wielhorski. “This is yet another project of this kind, on which we advise our Client,” he adds.

Rank Progress is an investment and development company which has become a market leader when it comes to construction of retail spaces. It is listed on the Warsaw Stock Exchange.

Buma constructs three new buildings as part of DOT Office in Kraków

In total, DOT Office in about to feature over 100,000 m2 of modern A-class office space, of which 63,000 m2 has already been developed.

“Buma Group is completing the ninth building of DOT office complex located in the Special Economic Zone named Kraków Technology Park,” says Michał Wielhorski, Managing Partner at act BSWW (law firm).

Business operations in the complex can be run on preferential conditions. DOT Office’s neighbors are research and scientific units of the Jagiellonian University, as well as independent international business institutions. There is also a surface parking lot nearby, operating in the “Park & Ride” model, as well as a strategic public transport hub, Czerwone Maki, with an option to quickly reach the city center by tram. The developer pays a lot of attention to external areas – there are relax zones between the buildings, allowing employees to rest among green plants. DOT Office has a kindergarten, clinic, fitness club, hair salon, grocery store, bakery, cafe, several restaurants, newsstand, ATM, parcel pick-up/drop-off point and bike parking racks.

“For years, we have been supporting Buma Group in a comprehensive range of legal aspects of its investment projects – from transaction-related issues, through financing, to leasing,” says Michał Wielhorski.

act BSWW assisted Buma Group in acquisition of land for DOT Office project (legal due diligence, transaction advisory), development and financing (construction and investment credit facilities). It is now supporting the Client in the leasing process.

act BSWW’s team is led by Michał Wielhorski, Managing Partner, who runs the law firm’s real estate practice. Leasing services are provided by Alicja Sołtyszewska, Partner, specializing in lease agreements.

act BSWW has also performed legal consulting services with respect to other office complexes developed by Buma Group: Green Office (21,300 m2), Tertium Business Park (39,900 m2), Aleja Pokoju 5 (13,000 m2) and Quattro Business Park (48,800 m2). The law firm is also handling two ongoing projects, Cu Office (23,500 m2) and Wadowicka 3 (31,200 m2). The scope of legal advisory covers the whole investment cycle.

Lux Med Group acquired 100% shares in Silver Dental Clinic. act BSWW (legal advisor) and Upper Finance Med Consulting (transactional advisor) supported the clinic’s owners during the sale process.

Silver Dental Clinic offers highly specialized services, including a unique range of orthodontist ones. The clinic makes use of advanced digital technology. It is made up of 6 units, a radiology lab with digital diagnostic equipment, an orthodontic lab and a training room.

Transaction-related legal services for the dental clinic’s former owners were provided by act BSWW. The scope of the law firm’s works included negotiations covering the sale of shares, lease of premises in which the clinic runs its operations, and support in deal closing.

The project was handled by Piotr Smołuch (attorney-at-law, Managing Partner) and Sebastian Sury (attorney-at-law, Partner).

“For some time now, we have seen the growing popularity of private dental services and their increasing market share,” says Piotr Smołuch.

“This is yet another instance of our cooperation with Upper Finance,” adds Sebastian Sury.

The Polish dental market is currently worth PLN 11bn and despite accounting for just 3% of the European market, it has the potential to keep growing at the pace of approx. 10% year-to-year. This growth is propelled primarily by the rapidly increasing popularity of private services that make up as much as 80% of the dental market. Only a third of Poles use National Health Fund (NFZ)-reimbursed services, while public spending on this medical segment constitutes just 2.5% of NFZ’s budget.

“The increasing share of private spending on dental care is related to easier access to technology that improves patients’ comfort and meets a broad array of their needs. This trend is further promoted by the fact that the society is becoming richer and more aware of a simple truth that a beautiful smile often comes with a successful life,” says Joanna Szyman, Deputy President at Upper Finance Med Consulting.

Upper Finance Med Consulting experts have taken note of the ongoing process of market consolidation by investors:

“This trend is perfectly understandable, given the highly dispersed nature of the Polish market, quick technological growth, cut-throat competition from large medical groups, and challenging expectations of patients. Investors appreciate clinics in which highly advanced services, incl. orthodontics, form a large share,” says Marcin Śmigielski, Project Manager at Upper Finance Med Consulting.

act BSWW has advised Heli Aviation Service Sp. z o.o. on the purchase of the state-of-the-art AW169 helicopter manufactured by Leonardo S.p.A., an Italian company that is the worldwide industry leader (formerly AgustaWestland). Belonging to the AWFamily of products, the AW169 is the latest-generation 4.5 tonne class twin-engine helicopter.

Lawyers from act BSWW were supporting Heli Aviation Service Sp. z o.o. throughout the process of helicopter acquisition. The scope of services included support in negotiations and deal closing, as well as delivery and registration of the first AW169 model in Poland. The project was handled by Marek Wojnar, attorney-at-law and one of the Managing Partners leading the law firm’s Italian Desk. He was supported by Magdalena Piotrowska, trainee legal counsel.

“We are pleased with the confidence our partners placed in us. Purchase of a helicopter is generally a challenging transaction, even more so when it has to be carried out under complex actual or legal circumstances. In this case, we had to cooperate (among others) with a partnering law firm from the UK. This is yet another example of a comprehensive range of activities taken by our Italian Desk which does not only work with Italian investors in Poland, but also supports Polish investors in their transactions in Italy,” says Marek Wojnar.

act BSWW has consulted on Rank Progress’ sale of over 8 hectares of investment land worth more than PLN 75m net.

On May 09, 2019, Rank Progress S.A. entered into another amending annex to the investment agreement with Vantage Development S.A., aimed at defining the rules and stages of a joint investment project involving a residential estate with complementary retail and office functions, i.e. Port Popowice in Wrocław. The document specifies the principles of joint venture’s acquisition of perpetual usufruct to land and partners’ additional financial contributions.

Additionally, act BSWW was supporting Rank Progress S.A. with respect to return assignment of the investment land by BOŚ S.A.

Michał Wielhorski, Managing Partner, acted as the team leader. The team was made up of Mateusz Prokopiuk, Senior Associate, and Małgorzata Wąsowska, Partner and Head of Tax.

“We have been advising Rank Progress from the very start of its joint venture with Vantage Development, covering the highly ambitious and unique project of Port Popowice,” says Michał Wielhorski.

Port Popowice combines a former inland port with sophisticated architecture, contemporary design and functional spaces. The project, whose implementation is going to take roughly 10 years, involves development of approx. 2,500 apartments, modern office areas (14,500 m2) and commercial premises (17,000 m2). The renewed dock is going to be the heart of the whole project.

More about the project.

We are delighted to announce that we have received industry recognition from The Legal 500 EMEA 2019 in seven categories and numerous individual recommendations for our practitioners.

Recommendations for the law firm:
– banking and finance
– capital markets
– commercial, corporate and M&A
– construction
– dispute resolution
– employment
– white-collar crime

Recommended individuals:
– Jacek Bieniak
– Piotr Smołuch
– Michał Wielhorski
– Piotr Wojnar
– Marek Wojnar
– Magdalena Banaszczyk-Głowacka
– Marta Kosiedowska
– Katarzyna Marzec
– Piotr Pośnik
– Sebastian Sury

The Legal 500 is one of the world’s largest legal referral guides.
Click here for more information.

On March 12, 2019, Strabag sp. z o.o. entered into an agreement for the purchase of Atrium International in Warsaw.

Atrium International is a 6-storey office building offering over 12,000 square meters of lease area, located in Warsaw’s central business district, which is considered to be among the most sought-after investment locations in Central and Eastern Europe.

act BSWW was advising Strabag throughout the process of acquisition of Atrium International. The scope of legal services included due diligence audit, preparation of transaction-related documents, as well as support in negotiations and deal closing.

The project team was headed by Marek Wojnar (Managing Partner, attorney-at-law) and Marta Kosiedowska (Partner, legal counsel). They were supported by Katarzyna Marzec (Partner, legal counsel), Magdalena Banasczyk-Głowacka (Partner, legal counsel), Michał Sołtyszewski (Partner, attorney-at-law) and Katarzyna Góra (Associate, trainee attorney-at-law).

“Our law firm has been working with Strabag Group on dozens of real estate transactions over the past years. We are proud that the company once again put its trust in us with respect to such a significant project, acknowledging our knowledge and abilities,” says Marek Wojnar.

“Our Client has acquired a popular office building that boasts vast investment potential and makes it possible to develop one of Warsaw’s highest office towers,” adds Marta Kosiedowska.

YIT, Finland’s leading developer which also operates in Poland, acquired a nearly 6-hecate land lot in the Warsaw district of Bemowo. The intended project (Nordic Bemowo) will feature a residential estate in a perfect location, close to two newly-emerging stations of the second metro line. It is going to be implemented in stages, seeing a total of over 600 apartments. The current stage of the project involves conceptual and design works.

 

act BSWW was advising YIT throughout the process of acquisition of the real property. The scope of consulting services included a due diligence review of the property, preparation of transaction documents, support in negotiations and closing the deal. Michał Wielhorski (attorney-at-law and Managing Partner at act BSWW) acted as the team leader. He was supported by Mateusz Prokopiuk (attorney-at-law, Senior Associate) and Michał Sołtyszewski (attorney-at-law, Senior Associate). Tax issues were handled by Małgorzata Wąsowska, Head of Tax at act BSWW.

 

“It is of great importance for us to be able to work with such renowned developers operating in Warsaw’s real estate market. We appreciate the opportunity to be involved in this project and provide comprehensive advisory at each stage,” says Michał Wielhorski.