On April 17, 2020, CEE Legal Matters reported that Linklaters had advised Penta Real Estate on the sale of the D48 office building in Warsaw to IAD Investments. We reached out to Damian Grzywacz, Managing Director in Penta Real Estate Poland, to learn more about the deal.
CEELM: To start, please tell our readers a few words about Penta Real Estate.
Damian: Penta Real Estate is the real estate division belonging to the Penta Group. Our projects, which are mainly executed in the Czech Republic, Slovakia, and Poland, are consistently valued, not only by professionals, but also by clients and lay-people, for their innovative architecture and for incorporating fresh and functional designs and a sense of urbanism, quality, and high investment value.
CEELM: What about the D48 building made it particularly attractive to the buyer?
Damian: The D48 stands for the highest quality materials and unique, human-focused approach to space design. It was the first Penta Real Estate investment in Poland. The project is located in the Mokotow business district which has been perceived as one of the most developed office hubs in CEE. The development offers its tenants a number of unique features, such as green relaxation areas, terraces on top floors with a panoramic view of Warsaw, comfortable visitor parking, and extensive facilities for cyclists. It is also a very eco-friendly and green building, holding a LEED Gold Certificate.
CEELM: Do you usually rely on outside counsel for legal advice on such deals, or was there something in particular about this one that warranted input?
Damian: Yes. We always cooperate with external legal firms. We started our cooperation with Linklaters on the D48 development way before the disposal process. We also cooperated with Linklaters on a number of other projects.
CEELM: What was the law firm’s mandate on this deal?
Damian: Linklaters provided a full and comprehensive legal service related to the disposal of this asset.
CEELM: What were the considerations for which you chose Linklaters specifically to assist you in this matter?
Damian: Our long-term and successful cooperation with Linklaters as well as great team spirit between our companies have been the major factors for selecting them for this transaction.
A previous Deal 5 interview with IAD Investment Board Member Vladimir Bolek about the deal can be read here.