WARSAW - 29 June 2020 - Greenberg Traurig advised Panattoni Development Europe on the transaction related to the planned development of a logistic park on a plot located near Warsaw. Advice on the transaction included aspects of the financing for the project as well as negotiation and signing of the agreement relating to the development of the project.
The transaction completed the acquisition by Panattoni of a property portfolio, consisting of three projects. The first project was finalized in February 2020 and relates to the development of a logistic park in Poznań. The second transaction was closed in April 2020 and involved the planned development of land with a logistic project in Stryków.
The developed projects will have a joint warehouse space of 215.000 sq.m, and the total value of the three projects amounts to approx. EUR 132 million.
Partner Jolanta Nowakowska-Zimoch provided strategic advice on the transactions.
The transactions in April and June were negotiated and signed under extraordinary circumstances due to the coronavirus (COVID-19) pandemic and with preserving all safety measures for all its participants.
“Advising Panattoni on the portfolio transactions closed by our real estate team in challenging market conditions is a positive sign for all players in the real estate market, as it shows the logistic sector remains very active despite the turbulent circumstances,” said Jolanta Nowakowska-Zimoch, Partner and Head of the Real Estate team in Poland.
Panattoni Europe is the European branch of one of the world’s largest industrial developers, the Panattoni Development Company, and is currently celebrating its 15-year presence on the European market.
Greenberg Traurig LLP
Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 2200 attorneys serving clients from 41 offices in the United States, Latin America, Europe, Asia, and the Middle East.
Greenberg Traurig Grzesiak sp.k. was named the 2019 and 2018 Most Innovative Law Firm of the Year Award for Poland by International Financial Law Review (IFLR) and the 2017 Law Firm of the Year in Poland by Chambers and Partners. 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 and TMT.
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 400 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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