White & Case has advised companies from the Ghelamco group on financing of up to EUR 221 million and PLN 45 million (a total amount of approximately PLN 1 billion) received from a consortium of financial institutions including Bank Zachodni WBK S.A., PKO BP S.A., Bank Pekao S.A., Bank BGZ Paribas S.A., and Raiffeisen Bank Polska S.A. that will be used to construct an office-services-hotel complex called The Warsaw Hub. Baker McKenzie advised the lenders on the deal.
According to White & Case, The Warsaw Hub, which was formerly known as the Sienna Towers, "is the latest and the largest of Belgian international real estate investor and developer Ghelamco's projects in Poland. The complex will be comprised of three skyscrapers linked by a common five-story base and have a total area of about 113,000 square meters. Construction is under way and is scheduled to be completed at the beginning of 2020."
The White & Case team in Warsaw which advised on the transaction included Partner Tomasz Ostrowski, Local Partners Nicholas Coddington and Michał Matera, and Associates Aneta Urban and Michał Oles. Just last month White & Case advised Ghelamco on the EUR 370 million refinancing of the Warsaw Spire project (as reported by CEE Legal Matters on September 15, 2017).
The Baker McKenzie team was led by Partner Ireneusz Stolarski and included Counsel Tomasz Kaczmarek and lawyer Pawel Ostrowski.
