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act BSWW legal & tax advises Adventum on acquisition of Sky Tower for over EUR 84 m

act BSWW legal & tax represented the buyer in the acquisition of an office, retail and residential complex in Wrocław, with a total area of over 171,000 sqm, from Sky Tower S.A., member of Develia Group.

Our services included a full range of transaction advisory, including due diligence, preparation of transactional documentation and support during negotiations. The law firm also guided the client throughout the financing acquisition process.

The project team was led by Marta Kosiedowska (Partner) and Marek Wojnar (Managing Partner), supported by Katarzyna Marzec (Partner).

As regards the acquisition of financing, the client was advised by Marta Kosiedowska (Partner), supported by Mariusz Grochowski (Senior Associate).

This is yet another property acquired by Adventum over the recent time, and we are more than glad to be able to assist the client at each subsequent stage of its growth. In October, we had the opportunity to advise Adventum on the acquisition of the Mercedes-Benz building in Warsaw, said Marek Wojnar.

Adventum is definitely growth-oriented, as can be seen from their recent acquisitions. Sky Tower boasts a huge potential and perfectly fits into our client’s development strategy. – noted Marta Kosiedowska.

Adventum Group is a boutique investment fund management company focused on Central European real estate investment projects. The group has thus far completed projects with a total value of over EUR 1.5bn in the CEE region.

Sky Tower is one of Poland’s highest developments (212 meters and 50 floors). Apart from over 30,500 m² of leasable office space, the project covers commercial space (25,000 m²), luxury apartments, comprehensive leisure facilities, and a multi-level underground car park.

The seller and the financing banks were advised by Dentons.

The real estate team at act BSWW legal & tax is one of the biggest among Polish law firms. Our practitioners advise on all types of real estate projects, with a strong focus on large development, retail and office projects. They act for a wide range of international, domestic and regional clients, including developers, property owners, asset managers, investors, lessors and lessees.

act BSWW legal & tax advises on financing of prestigious apartment hotel project in Gdynia

act BSWW legal & tax advised an investment company, CVI, on a debt financing transaction involving the issue of bonds with a total value of PLN 38 million. The funds obtained by the issuer, Affiliate Gdynia, a special-purpose vehicle associated with the key management staff of the Allenort Group, served to co-finance the purchase of the real estate located at Kościuszko Square in Gdynia. The bonds redemption is scheduled for October 2026.

The planned investment project entails the construction of one or more five-storey buildings accommodating a hotel, residential apartments and retail space. The project will be implemented in the city’s most popular section, close to Gdynia Marina, the Gdynia Aquarium, the beach and the harbour, offering a view onto the iconic ships ORP Błyskawica and Dar Pomorza.

act BSWW legal & tax advised 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 handled by Piotr Smołuch (Managing Partner, Head of the Bonds) and Sebastian Sury (Partner), supported by Kornelia Walczak (Senior Associate) and Edyta Krzepicka (Associate).

CVI is an independent investment firm operating since 2012, focusing on investments in Central and Eastern Europe. CVI manages 7 investment funds with a total AUM of almost PLN 4 billion (as of December 2020). CVI provides flexible financing solutions for SMEs that address a wide range of capital needs (e.g. capital expenditure, working capital, LBOs, refinancing, recapitalizations and restructurings).

Upper Finance was responsible for obtaining the financing.

act BSWW legal & tax provides comprehensive debt financing advisory services. The team has conducted over 500 debt financing transactions with a total value of almost PLN 7 billion.