Greenberg Traurig advised Hungarian WING Group (WING) and international investment and asset manager Griffin Capital Partners (Griffin) on their joint acquisition of a 60 percent stake in Berlin-based property developer BAUWERT AG (BAUWERT). WING Group will have a controlling interest in the company. The transaction is expected to close early next year.
WING reported that the acquisition is an important milestone in its international expansion strategy of aiming to become a leading player in the European real estate market. BAUWERT noted it will continue to operate its current business model of developing high-end residential and commercial properties and is looking to further expand in the future. Greenberg Traurig advised WING and Griffin on all legal aspects of the transaction with an integrated multijurisdictional team from Berlin and Warsaw.
BAUWERT is a residential and commercial developer focusing on the Berlin market. WING is a real estate developer and investor in the Central and Eastern Europe (CEE) real estate market, with a strong presence in Hungary and Poland. Griffin is a privately-owned investment and asset manager in private equity and real estate in CEE, with a strategic focus on Poland and CEE. Both companies previously cooperated in Poland through the acquisition of a 66 percent stake in Echo Investment.
WING and Griffin are existing clients of Greenberg Traurig. In 2019, an international team of attorneys from Poland, the United States, and the UK represented WING in an agreement to acquire Echo Investment in Poland. Greenberg Traurig also has recently advised Echo Investment on the sale of an office building in Wroclaw, Poland.