WARSAW – 16 May 2024 – Greenberg Traurig represented Cromwell Property Group in the transaction related to the sale of a real estate portfolio consisting of six retail centers located in Warsaw, Szczecin, Wrocław, Łódź, Toruń and Bydgoszcz to Star Capital Finance.
The value of the transaction amounted to EUR 285 million.
The portfolio totals more than 219,000 sqm and includes six shopping centres: Janki in Warsaw, Kometa in Toruń, Korona in Wrocław, Tulipan in Łódź, Ster in Szczecin and Rondo in Bydgoszcz. The occupancy of the portfolio exceeds 95% with anchor tenants including Auchan, Bi1, LPP Group, Inditex Group, CCC Group, Rossmann, RTV EURO AGD and Cinema City. Cromwell Property Group will continue to act as asset manager of the shopping centres on behalf of Star Capital Finance.
The Greenberg Traurig team was co-led by Local Partner Małgorzata Kercz and Counsel Karol Lewandowski, who were supported by Associate Paulina Horodeńska-Wieczorek and Junior Associate Hanna Żaboklicka. The transactional team also included Local Partner Justyna Szwech.
Partner Maciej Jodkowski provided strategic advice and supervised all work on the transaction.
“Congratulations to Cromwell on the successful completion of this landmark transaction. We are delighted to have assisted our Client on such a significant deal on the Polish retail property market and we are looking forward to working together on future projects,” said Maciej Jodkowski, Partner in the Real Estate Practice.
Cromwell Property Group (ASX:CMW) (Cromwell) is a real estate investor and fund manager with operations on three continents and a global investor base. As at 31 December 2023, Cromwell had total assets under management of EUR 7.0 billion across Australia, New Zealand and Europe.
Greenberg Traurig LLP
Greenberg Traurig, LLP is a global, multi-practice law firm with approximately 2750 attorneys serving clients from 47 offices in the United States, Latin America, Europe, Asia, and the Middle East.
GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k. was named the 2021 Poland Firm of the Year at the highly esteemed Euromoney Legal Media Group “Women in Business Law Awards 2021 Europe” and the 2021, 2019, 2018 Law Firm of the Year in Poland by International Financial Law Review (IFLR). The Warsaw office of Greenberg Traurig, LLP provides legal services to clients in Central Europe and beyond and consists of approximately 100 lawyers. Team members are regularly recognized as leaders in numerous practice areas. Chambers Global, Chambers Europe, IFLR1000 and EMEA Legal 500 consistently rank them among the top tiers the areas of Corporate/M&A, Capital Markets, Real Estate, Private Equity, Tax, Banking and Finance, Project Finance, Energy, Dispute Resolution, TMT and Competition/Antitrust.
About Greenberg Traurig's Real Estate Practice
Greenberg Traurig's Global Real Estate Practice is a cornerstone of the firm and recognized leader in the industry. The firm’s real estate attorneys deliver diversified and comprehensive legal solutions for property acquisition and investment, development, management and leasing, financing, restructuring, and disposition of all asset classes of real estate. The team draws upon the knowledge and experience of 700 real estate lawyers from around the world, serving clients from key markets in the United States, Europe, the Middle East, and Latin America. The group’s clientele includes a broad range of property developers, lenders, investment managers, private equity funds, REITs, and private owners. The firm’s real estate team advises clients on a variety of matters across a broad spectrum of commercial, recreational, and residential real estate, including structured equity and debt and the hybrids.
Greenberg Traurig's real estate team in Warsaw consists of 40 top-rated specialists who cover a broad spectrum of core real estate and additional practices. The team offers clients an unparalleled level of legal experience and service in Poland and within Central Europe.
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