Dentons has advised Globe Trade Centre on the acquisition of a real estate portfolio from the real estate investor Peach Property Group. GTC acquired the portfolio in a consortium along with Luxembourg Finance House. Greenberg Traurig's Germany office reportedly advised Peach Property Group.
Founded in 1994 and headquartered in Warsaw, GTC Group is a real estate investor and developer focusing on Poland, Hungary, and the capital cities of Central, Eastern, and Southern Europe.
According to Dentons, "the portfolio focuses on three cities in Germany: Kaiserslautern, Helmstedt and Heidenheim. In total, it comprises around 5,200 residential units, 47 commercial units, 71 other units, and 2,108 parking spaces, with a total rental area of 324,167 square meters."
In 2021, Dentons advised on Globe Trade Centre's bonds issuance (as reported by CEE Legal Matters on July 2, 2021).
The Dentons team included Budapest-based Partners Istvan Reczicza, Gergely Stanka, and Judit Kovari and Senior Associate Rita Varnagy as well as further lawyers in Berlin, Frankfurt, and Luxembourg.
Editor’s Note: After this article was published, Rymarz Zdort Maruta announced that it advised GTC as well, particularly on the company’s issue of series A participation notes in bearer form, with a total nominal value of approximately EUR 41.8 million, as well as the Polish aspects of financing the transaction. The firm’s team included Partner Jakub Zagrajek and Associate Patrycja Gliwka.
