Act Legal Poland (BSWW legal & tax) has advised investment fund manager Adventum on its EUR 84.42 million acquisition of a 79.55% stake in the Sky Tower office building in Wroclaw from Polish property developer Develia. Dentons advised the seller on the transaction.
The deal was announced a week after Act Legal and Dentons advised on Adventum's previous acquisition (as reported by CEE Legal Matters on September 20, 2021 ) and is expected to close by the end of 2021.
Sky Tower is a commercial property consisting of office, retail, and luxury residential space with a total area of 171,000 square meters, providing leisure facilities, a recreational area, and a multi-level underground car park.
According to Act Legal, the Adventum Group is a group of boutique investment fund management companies primarily focused on the Central European real estate market, with investments reaching EUR 1.5 billion to date.
"The rapid expansion of Adventum’s portfolio in Poland is very impressive. We are proud to have earned the trust of one of the fastest-developing funds on the Polish market," commented Act Legal Poland Partner Marta Kosiedowska.
"Adventum’s portfolio is growing to above 125,000 square meters of office space with this transaction. Sky Tower expands Adventum’s retail presence in Poland. We are delighted to support this client yet again in such a prestigious acquisition," added Act Legal Poland Managing Partner Marek Wojnar.
The Act Legal Poland team was led by Wojnar and Kosiedowska and included Partner Katarzyna Marzec and Senior Associate Anna Sawaryn.
Dentons’ team consisted of Partner Bartlomiej Kordeczka, Counsel Martyna Racz-Suchocka and Associate Karolina Ostrowska.