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Greenberg Traurig advised Madison International Realty on the acquisition of Chmielna 89

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.

Greenberg Traurig LLP

Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 2200 attorneys serving clients from 40 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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