act BSWW provided legal services to Zeitgeist Asset Management (via SPV of its Specialized Investment Luxembourg based Fund – Real Added Value SCS) on all stages of acquisition of the office building located in Warsaw at Solec St. The building provides office leasable area on seven floors, with GLA of approx. 4.000 sq. m.
act BSWW lawyers were responsible for the preparation and execution of the whole transaction including: (i) due diligence examination of the property as well as (ii) advice on the contractual documentation regarding purchase of the property and (iii) assistance in closing of the transaction itself. The team working on this project consisted of: Marek Wojnar as well as Magdalena Piotrowska and Michał Sołtyszewski.
Zeitgeist Asset Management has vast experience on the Polish commercial real estate market – last year it purchased a real estate on Długa St. for over 50 million Polish zlotys for the purpose of developing a luxurious apartment building.
“We are happy to have been given the opportunity to participate in this transaction. We are proud that we can work with such a prestigious and demanding Client, making sure that its ambitious investment plans become a reality” – says Marek Wojnar, managing partner at act BSWW, who led this project. Peter Noack, the Co-founder and Managing Director of Zeitgeist Asset Management, adds: “We are very pleased that we, in cooperation with the act BSWW lawyers, managed to acquire an office building in an attractive location in the centre of Warsaw. In the future we would like to create high-quality, affordable student housing, thus expanding the existing offer, which has long been insufficient in the Polish capital.”
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