LONDON – 27, February 2019 – A team from the London, Warsaw, and Amsterdam offices of global law firm Greenberg Traurig, LLP represented Cromwell European Real Estate Investment Trust (CEREIT), through its subsidiaries, on its acquisition of 16 predominantly freehold office properties in Poland, the Netherlands, and Finland, with the total purchase consideration for the portfolio being EUR 324 million.
Greenberg Traurig’s deal team was led in London by Corporate Shareholder Sarah Moyles and included Associates Emma V. Bosworth and Daniel M. Woolston; in Warsaw by Shareholder Radomił Charzyński and included Senior Associate Karolina Olko and Associates Milena Mędrzycka, Maxymilian Rybczyński, and Jakub Gajzler; and in Amsterdam by Shareholders Jan Kees Brandse and Paul Westhoff and included Associates Jeroen van den Hamer, Radboud de Wit, and Suzanne Walstra.
This transaction shows a remarkable cooperation between Greenberg Traurig’s offices in Europe and demonstrates that the firm has the ability to represent clients on the execution of complex cross-border transactions.
The acquisition was financed through both an underwritten and renounceable rights issue on the Singapore Exchange Securities Trading Limited announced on 30, October 2018, and debt financing provided by Skandinaviska Enskilda Banked Ab (Publ), Frankfurt Branch and Société Générale S.A., Frankfurt Branch.
The transaction, according to published reports, will increase CEREIT’s total portfolio value from approximately EUR1.4 billion to EUR1.8 billion, enhancing the size, scale, and diversification of the portfolio and that it provides access to brand new markets in Finland and Poland, which are among the fastest growing in Europe, while reportedly strengthening CEREIT's position in the Dutch office markets.
About Greenberg Traurig’s Corporate Practice
Greenberg Traurig’s Corporate Practice comprises more than 450 lawyers in the United States, Europe, Asia, the Middle East and Latin America who regularly advise public and privately held companies, entrepreneurs and investment funds on global mergers and acquisitions, corporate restructurings, private equity and venture capital, underwritten and syndicated offerings, commercial finance and syndicated lending, cross-border transactions, and general corporate matters. The group’s industry experience includes transactions in a wide range of fields, from the pharmaceutical, medical devices, and life sciences fields, to representations involving clients in the aviation, banking, consumer products, energy, food and beverage, health care, manufacturing, media, technology, and telecommunications sectors.
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 counsel 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 400 real estate lawyers from around the world, serving clients from key markets in the United States, Europe, the Middle East, Latin America and Asia. 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.
About Greenberg Traurig, LLP
Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 39 offices in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and is among the Top 20 on the 2018 Am Law Global 100. Web: http://www.gtlaw.com Twitter: @GT_Law.