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CDZ Advises Capital Park Group on JV with Akron Group to Modernize Swarzedz Shopping Center

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Chajec, Don-Siemion & Zyto (CDZ) has advised real estate investor and developer Capital Park Group on setting up a joint venture with the Akron Group, an Austrian capital group that invests in office, logistics and retail properties, in order to modernize the ETC shopping center in the town of Swarzedz, Poland.

According to CDZ, the firm "carried out a due diligence investigation of the real estate and the joint venture company, developed the transaction structure in cooperation with tax advisors, and prepared and negotiated the joint venture agreement, organizational documents, and the financing structure within the capital group.” CDZ lawyers also advised the joint venture company on securing bank financing for the modernization of the ETC shopping center.

CDZ Partner Szymon Skiendzielewski supervised the set-up of the joint venture with Senior Associate Aleksandra Szyszko-Kaminska responsible for drafting all documentation and ensuring the transaction’s execution. The drafting of loan and securities documentation was also led by Skiendzielewski, supported by advocate Daniel Kozlowski.

Last year CDZ advised the Capital Park Group on the set-up of a similar joint venture with Akron to redevelop the ETC shopping center in Gdansk (since renamed Galeria Zaspa).

CDZ explained that it was not allowed to identify counsel for Akron on the deal.

Image Source: akron-group.com

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