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MAGNUSSON ADVISED OCTAVA ON THE REAL ESTATE ACQUISITIONS IN POLAND

2015-02-26

Magnusson advised Octava, a property company listed on the Warsaw Stock Exchange, in connection with the purchase by the subsidiaries of its affiliate, the investment fund Octava FIZAN, of two office buildings in Poland: Obrzeżna Building in Warsaw and the Baltic Business Center in Gdynia, from Lithuanian real estate fund BPT Optima managed by Northern Horizon Capital.

Obrzeżna Building, located in the Mokotów district in Warsaw, offers 9,600 sq. m of office space. The Baltic Business Center is located in the center of Gdynia, and has 11,300 sq. m of office space. The transaction was closed in January 2015.

Magnusson provided Octava with comprehensive legal advice concerning the transaction, including performing the legal due diligence of the real properties, drafting, negotiating and executing the purchase agreements along with auxiliary agreements.

The Magnusson team advising Octava was led by partner Katarzyna Sawa- Rybaczek. The team was composed of partner Przemysław Kastyak and associates: advocate Małgorzata Błahuciak, legal advisor Tomasz Rysiak, legal advisor Witold Jarzyński, and advocate trainees: Zuzanna Wencel-Czuryszkiewicz, Izabela Żmijewska and Kamil Stelmach.

“We are greatly satisfied that that after several months of tough negotiations we have completed this transaction for Octava, especially, taking into account complex legal aspects related to a portfolio acquisition of two separate office projects. This is another landmark property transaction we have completed in the last months”, said Katarzyna Sawa-Rybaczek, partner at Magnusson.

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