Property adviser CBRE and international law firm Dentons acted for Starwood Capital Group on its acquisition last week of a three-asset office portfolio in Poland.
Property adviser CBRE and international law firm Dentons acted for Starwood Capital Group on its acquisition last week of a three-asset office portfolio in Poland.
'This undoubtedly represents one of the highest profile transactions of combined office space in 2014 and proves that office buildings have remained high on investors’ wish lists. Moreover, the transaction shows that certified green buildings provide a highly valued asset in the market,' said Mike Atwell, head of CEE Capital Markets at CBRE.
Dentons’ real estate team supported Starwood with legal advice on its entry into the Polish office market. The Dentons team was led by Maciej Ryniewicz, a real estate partner based in Dentons’ Warsaw office. Commenting on the deal, he said: 'Until now, Starwood Capital Group’s Polish portfolio comprised a network of hotels across the country. We are happy to have assisted Starwood in its successful expansion into the office sector in Poland.'
Starwood's Distressed Opportunity Fund IX acquired a portfolio of three office properties in Poland from developer Ghelamco.
Ghelamco described its first ever three-asset portfolio sale as 'one of the biggest office transactions of the year' in Poland.
The price was not disclosed but German bank Helaba provided €136 mln in financing for the transaction.
The 77,000 m2 office portfolio comprised Lopuszanska Business Park (Warsaw), Marynarska 12 (Warsaw) and Katowice Business Point (Katowice).
Last year, Dentons real estate team advised Starwood on the largest office transaction in the Czech Republic ever - the acquisition of The Park, a 12-building business complex in Prague from Aberdeen Asset Management Deutschland.