Dentons Warsaw has advised Kajima Student Housing Limited on the EUR 60 million acquisition of a majority stake in Student Depo, the operator of a chain of student dormitories in Poland, from Oaktree Capital Management. Weil, Gotshal & Manges advised the seller on the deal, which left former JV partner Griffin Real Estate Partners retaining its 10% share in the chain.
Student Depot was founded in 2015 by GRE and Oaktree. It currently operates facilities in Wroclaw, Poznan, Lodz, and Lublin, with plans to complete its development in Warsaw by October this year, bringing its total number of dormitory beds to 2,100.
According to Dentons, Kajima Student Housing Limited was set up by Kajima Europe as a vehicle dedicated to investments in private student dormitories in Europe. In its turn, Kajima Europe is the European branch of Kajima Corporation, a company listed on the Tokyo Stock Exchange.
The Dentons team was led by Partner Pawel Debowski and Counsel Jacek Jezierski, supported by Lawyers Alicja Pulawska-Kusnierz and Joanna Fidecka.
The Weil team was led by Partner Filip Uzieblo, supported by Partner Marcin Iwaniszyn, Counsel Monika Kierepa, Senior Associate Piotr Fedorowicz, and Associates Tomasz Karkowski and Jerzy Rostworowski.