WARSAW – Sept. 28, 2016 -- Greenberg Traurig advised Rockcastle Global Real Estate, a property company specializing in retail centers in Central and Eastern Europe, in the acquisition of Bonarka City Center in Kraków, from TriGranit (TPG).
The value of the transaction was EUR 361 million, which makes it the largest single property transaction in Poland in 2016.
Greenberg Traurig provided Rockcastle with comprehensive legal advice with respect to the transaction, including legal due diligence and the negotiation of all transaction documents, as well as the sale agreement.
The transaction was led by Partner Agnieszka Stankiewicz and Local Partner Magdalena Życzkowska-Jóźwiak. Ms. Życzkowska-Jóźwiak was also responsible for conducting the legal due diligence, in which she was supported by Associates: Milena Mędrzycka, Anna Szczepankowska, Agnieszka Gul-Czajkowska, Dobrosław Płaska, Karol Lewandowski, and Michał Niećko.
Bonarka City Center comprises ca. 91,000 sq. m. and was opened in November 2009. The investment is located in Kraków, in the Podgorze district, between Kamieńskiego and Puszkarska streets. The shopping center consists of 270 units and more than 30 restaurants. The facility provides 3,200 free parking spaces.
Rockcastle is a listed entity with current market capitalization of USD 2 billion. Its investments comprise global real estate securities and a portfolio of direct property assets, which are owned and managed by the company including commercial property development projects, existing properties and real estate companies. Rockcastle has concluded eight significant property investments in Central Europe and intends to continue increasing its exposure and asset base in CEE for the foreseeable future.
About Greenberg Traurig's Real Estate Practice
The Greenberg Traurig 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 more than 300 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.
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