Clifford Chance has advised international investment group PPF Real Estate Holding on the acquisition and financing of the New City office park in Warsaw from Hines Polska. Dentons advised the seller.
New City has a leasable area of 45,000 square meters and is located in the Mokotow district in Warsaw.
"The Warsaw real estate market is booming, being one of the most liquid in Central and Eastern Europe," PPF Real Estate Investment Manager Jiri Sykora commented. "We thoroughly assessed the location, and despite the local market not having avoided the coronavirus pandemic’s adverse economic effects, New City has shown a high degree of stability compared to other office centers."
The Clifford Chance team was led by Partner Daniel Kopania and included Senior Associates Katarzyna Paczek, Maciej Bochenski and Tomasz Walerowicz, and Associate Oliwia Hutnik.