WARSAW, September 17, 2020 - Greenberg Traurig advised Madison International Realty, on a transaction involving acquisition of shares in Cavatina Office sp. z o.o., the owner of the Chmielna 89 office building in Warsaw, from Cavatina Holding S.A., entry into a joint venture agreement with Cavatina Holding S.A. and the refinancing of the existing bank debt of Cavatina Office sp. z o.o.
Chmielna 89, leased almost entirely by PKO BP, is an office building with a characteristic shape resembling a crystal, located in the business center of Warsaw. The 14-storey office building offers over 25 thousand sq m high-class work space. The office building received BREEAM certification at the Excellent level and several awards, including the European Property Award (2018) and the International Property Award (2019).
The transaction was led Senior Associate Kamil Majewski, supported by Associates: Karolina Woronko-Kawa, Michał Niećko and Filip Widuch. Partner Aleksander Janiszewski, supported by Senior Associates: Paweł Jaśkiewicz and Paulina Kimla-Kaczorowska and Associates: Iga Czerniak and Katarzyna Goljan provided advice on the financing aspects of the transaction. Senior Associate Karolina Olko was responsible for the W&I insurance negotiations. The diligence team included Senior Associate Adam Narloch and Associates: Alicja Flis, Maxymilian Rybczyński, Tomasz Denko, Angelika Makar, and Marta Kownacka.
Partner Radomił Charzyński supervised all work on the transaction.
“Madison International Realty has been active on the Polish market since May 2018, when it acquired a 50% interest in the iconic Warsaw Spire Tower. We are immensely proud to have represented Madison in all its milestone investments in Poland, from its first transaction through the landmark acquisition of Capital Park, the sale of Warsaw Spire Tower and the acquisition of the warehouse portfolio held by European Logistic Investment, to the acquisition of a majority stake in Cavatina Office. We are also relieved to have been able to advise Madison under the extraordinary circumstances of the pandemic, preserving all safety measures for all participants at closing,” said Radomił Charzyński.
Madison International Realty is a global real estate private equity firm providing liquidity to owners and investors in A-class properties and portfolios.