Dentons has advised Heimstaden Bostad on its EUR 65 million acquisition of two build-to-rent projects in Warsaw’s Praga-Polnoc and Sluzewiec districts from Eiffage Immobilier Polska. DWF’s Poland office advised the seller on the deal.
Heimstaden Bostad is a Sweden-based residential property owner and operator. Eiffage is a French developer and contractor, with more than 100,000 projects in France and around the world. The company employs over 72,000 people on projects in construction, real estate, urban development, civil engineering, metallic construction, roads, energy systems, and concession sectors.
According to Dentons, the agreement is structured as a forward purchase, under which Eiffage will act as the general contractor. Construction on the two projects is expected to start in early 2021 and conclude in the first quarters of 2022 and 2023. The two projects will include 640 apartments, with additional commercial units and parking space.
Dentons' Warsaw-based team consisted of Partner Piotr Szafarz, Counsel Jaroslaw Stapel, and Associates Maciej Roman, Patrycja Pakla, and Joanna Poplawska.
DWF’s team included Partner Joanna Wojnarowska and Senior Associates Weronika Roesler, Bartosz Ostrowski, and Ewa Lewandowska.