WARSAW – 20 December 2022 –Greenberg Traurig Warsaw advised Multi Veste 339 B.V, an entity owned by funds managed by Blackstone, on the sale of the Forum Gdańsk shopping center situated in the Polish Tricity to NEPI Rockcastle.
The shopping center, which was opened in 2018 in Gdańsk, has a total area of 63,500 sqm GLA offers 1,100 parking places and is located between the old town and downtown and the city’s two main railway stations.
The transaction is valued at EUR 250 million, which makes it one of the largest single asset shopping center investment transactions by value in Europe in 2022.
The Greenberg Traurig team was co-led by Managing Partner and Head of Real Estate Jolanta Nowakowska-Zimoch and Senior Associate Aleksandra Kaczmarek, who were supported by Associate Jakub Gajzler. Local Partner Maciej Kacymirow advised on the tax aspects of the transaction and Associates: Iga Czerniak and Krzysztof Wiśniewski were responsible for the financing aspects of the sale.
“I believe that this transaction has the potential to become a spark for the retail sector in Poland, underlining this market’s attractiveness for subsequent investors interested in the CEE region. Our team is proud to have had the opportunity to advise our Client on such a significant project and one of the largest transactions from this sector executed recently in Europe,” said Jolanta Nowakowska-Zimoch, Managing Partner of Greenberg Traurig in Poland.
Blackstone is the world’s largest alternative asset manager investing capital on behalf of pension funds, large institutions and individuals.
NEPI Rockcastle is the largest listed developer, owner and manager of shopping centers by GLA in Central and Eastern Europe.
Greenberg Traurig LLP
Greenberg Traurig, LLP is a global, multi-practice law firm with approximately 2500 attorneys serving clients from 43 offices in the United States, Latin America, Europe, Asia, and the Middle East.
GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k. was named the 2021 Poland Firm of the Year award at the highly esteemed Euromoney Legal Media Group “Women in Business Law Awards 2021 Europe” and the 2021, 2019, 2018 Law Firm of the Year in Poland by International Financial Law Review (IFLR). 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, TMT and Antitrust/Competition.
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 700 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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