Allen & Overy advised 7R on the sale of the 7R Park Krakow IX logistics building to Generali Real Estate. Dentons advised the buyer.
The 7R Park Krakow complex consists of 10 facilities with a total area of over 245,000 square meters. Building IX covers 33,600 square meters.
7R is a Polish developer operating in the commercial real estate market. Apart from the main office in Krakow, the company has local offices in Warsaw, Gdansk, and Sosnowiec.
Generali Real Estate is a real estate asset manager with more than EUR 33 billion of assets under management as of June 30, 2021.
"We are pleased to continue our European expansion in logistics, executed through our pan-European dedicated fund Grelf, with this second opportunity in Poland," Generali Real Estate Head of Logistics Pierre-David Baylac commented. "We are also delighted to cooperate with 7R again this year, following the acquisition of the Gdansk park this summer" (as reported by CEE Legal Matters on September 27, 2021).
"The attractiveness of 7R’s buildings that have been delivered to the market over the past 13 years, is underpinned by the superior quality of these facilities, for instance in terms of energy efficiency, as well as excellent locations and environmentally friendly solutions," 7R Chief Capital Markets Officer Lukasz Jachna added. "These are key elements, important for tenants, employees, as well as investors."
The Allen & Overy team was led by Associate Malgorzata Jastrzebska, and included Partner Michal Matera and Associate Katarzyna Fus-Starzec.
The Dentons team was led by Partner Jacek Jezierski and included Senior Associate Alicja Pulawska and Associates Zuzanna Sobon and Marta Jonczyk.