B2RLaw has advised the Focus Estate Fund on the acquisition of Turawa Park shopping center from Abrdn. Dentons advised BNP Paribas Bank Polska on Focus Estate Fund's financing in relation to the acquisition. CMS reportedly advised the seller.
Turawa Park is a shopping center in Poland with a total area of 35,138 square meters. The shopping center has over 60 stores, a gallery, a retail park, a DIY-format store, and 1,320 parking spaces.
Focus Estate Fund is a real estate investment fund focusing on non-prime retail properties in Central and Eastern Europe. The Fund’s strategy is to invest in existing mid-scale commercial properties in the most dynamic European markets. Turawa Park is the fourth asset of the Fund’s portfolio in Poland.
Abrdn is a Scotland-headquartered international investment management group.
"This is our fourth asset in Poland and we plan to continue scaling our portfolio in the Polish market where we have been present for more than five years," Focus Estate Fund General Partner Maxim Shkolnick commented. "We see good prospects within the retail’s value-added segment that we operate in. In particular with a focus on non-prime retail parks and convenience shopping centers which have proved to be one of the most resilient classes during the pandemic."
The B2RLaw’s team was led by Of Counsel Krzysztof Marzynski and included Partner Marcin Huczkowski, Counsels Filip Badziak and Agnieszka Wojciechowska, Senior Associates Aleksandra Karteczka-Gurgul, Radoslaw Minh Nguyen, and Piotr Leonarski, Associate Julia Pycka, and Junior Associates Maria Markowska, Ewelina Gralicka, and Weronika Nowosielska.
The Dentons team was led by Partner Bartosz Nojek and included Partner Piotr Staniszewski, Managing Counsel Jaroslaw Stapel, Senior Associate Lukasz Blaszczak, and Associates Mateusz Ciechomski and Kamil Gapski.
Editor's Note: After this article was published, CMS confirmed it had advised Abrdn. The firm's team was led by Partner Lidia Dziurzynska-Leipert and included Managing Partner Andrzej Posniak, Counsels Michal Bork and Martyna Markiewicz, Senior Associate Konrad Leszko, Associates Julia Resmer and Rafal Kolkowski, and Lawyers Tomasz Ciszynski and Dominika Roszkowska.
