BSWW Act Legal Poland has advised Progress XVIII sp. z o.o.-S.K.A., a subsidiary of Rank Progress S.A., on its PLN 27 million acquisition of nearly eight hectares of land in Otwock, a town in central Poland for the development of a shopping mall.
The agreement was signed on June 26, 2019.
Rank Progress is an investment and development company that is listed on the Warsaw Stock Exchange. The company runs a range of investment projects involving acquisition of lands in various towns and smaller cities for retail developments intended for lease or sale.
Earlier this year, BSWW advised Rank Progress on its sale of eight hectares of land worth more than PLN 75 million to Vantage Development S.A. (as reported by CEE Legal Matters on May 29, 2019).
The BSWW team was led by Managing Partner Michal Wielhorski, supported by Partner Katarzyna Marzec and Senior Associate Mateusz Prokopiuk.
BSWW did not reply to our inquiries about the deal.