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Greenberg Traurig advised Torus on the sale of the Neon office building in Gdańsk

WARSAW, February 16, 2021 - Greenberg Traurig advised Torus on the sale of the Neon office building in Gdańsk, the fourth and final stage of the Alchemia business complex in Gdańsk, to the German fund DWS Grundbesitz GmbH Sp. z o.o. branch in Poland. The sale transaction, worth over EUR 80 million (net), is the second highest in the Polish developer’s history in terms of value and one of the largest in the history of the Tricity office market.

The Neon building offers over 35 thousand sqm of leasable area, including 33.5 thousand sqm of office space and over 1.5 thousand sqm of retail area located on the ground floor along the walkway between the Alchemia complex buildings. The two-year construction of Neon was completed in October 2019.

The Neon building, LEED-certified at the highest, Platinum level, is an architectural and functional complement of the Alchemia office complex, designed entirely by the APA Wojciechowski Architekci studio.

The Greenberg Traurig transaction team was led by Partner Agnieszka Stankiewicz and Senior Associate Rafał Siwek.

Torus is a Polish office real estate developer. To date, the company has completed 7 transactions for the sale of its office properties to 6 different funds (5 buildings of the Arkońska Business Park and 4 stages of Alchemia) for a total of nearly EUR 370 million.

DWS is one of the leading investment funds managing assets worth EUR 759 billion (as of 30 September 2020). It is headquartered in Germany but operates globally with nearly 3,300 employees worldwide. The purchase of Neon is another transaction carried out by DWS on the Polish real estate market.

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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