Dentons has advised HB Reavis on obtaining a EUR 475 million financing from Santander Bank Polska, Bank Pekao, Helaba, and Berlin Hyp for the development of the Varso Place building complex in Warsaw. DLA Piper reportedly advised the lenders.
Varso Place is located near the Warsaw Central Station and consists of three buildings comprising 144,000 square meters of leasable space, including offices, a hotel, an innovation center, and retail units.
HB Reavis is a Bratislava-headquartered company that invests in, designs, builds, and manages buildings, including company headquarters, retail malls, and co-working spaces. The company operates in the UK, Poland, the Czech Republic, Slovakia, Hungary, and Germany.
"Once again, the loan for Varso Place confirms our strong position on the European real estate market," HB Reavis CFO Peter Pecnik commented. "In such demanding times, we remain a stable and reliable partner for the leading financial institutions within the region. This is a good prognosis before the start of the new projects we are planning in key markets in Poland, the UK, and Germany. We are convinced that, like Varso Place, they will be first-class investments and market benchmarks in terms of quality, sustainable solutions, and tenant portfolios."
Dentons previously advised HB Reavis on the initial EUR 350 million financing granted to its three subsidiaries by a syndicate of Santander Bank Polska, Helaba, Bank Pekao, and UniCredit for the construction of Varso Place in Warsaw (as reported by CEE Legal Matters on March 20, 2019).
The Dentons team was led by Warsaw-based Partner Bartosz Nojek and included Partners Dariusz Stolarek, Michal Wasiak, and Katarzyna Bilewska, Counsel Wojciech Lysek, Senior Associates Aleksandra Czyz and Maciej Sopel, Associates Mateusz Ciechomski, Natalia Greiner, and Radoslaw Zygadlo, Bratislava-based Counsel Petra Strbova and Associate David Stanek, as well as a team from the firm’s Luxembourg office.
