WARSAW – July 7, 2016 - The Warsaw office of international law firm Greenberg Traurig represented Amstar (a U.S.-based real estate private equity fund) and BBI Development (a Warsaw-based developer) on the bulk sale of 72 residential units to German-fund Catella.
The transaction is believed to be the largest bulk sale of luxury residential units in Central European history.
The units are located in the iconic Złota 44 luxury residential tower, which is located in the Central Business District of Warsaw and designed by world-famous architect Daniel Libeskind. Złota 44 is one of the tallest residential towers in the European Union.
Eric Rosedale, chair of International Real Estate at Greenberg Traurig, commented that the deal was a landmark transaction in the CEE residential sector and completed in the midst of the post-BREXIT Referendum market turmoil, indicating the strength of the project and market sector.
The Greenberg Traurig transaction team was led by Partner Bartosz Clemenz and included development, construction, leasing, and tax specialists from the Greenberg Traurig Real Estate Group, which has grown to one of the largest on the Polish market.