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MAGNUSSON WARSAW ADVISES ON ONE OF THE LARGEST PROPERTY TRANSACTIONS IN CEE IN 2017

2017-12-19

Magnusson Warsaw advises the A-R-A Retail Centers consortium on the sale of 28 shopping centres in Poland. As a result of this complex transaction, the Oaktree – Pimco – Redefine consortium will become the new owner of this real estate portfolio.

In October 2017, A-R-A Retail Centers (owned by the Apollo-Rida, Ares Management, and AXA Group investment consortium) entered into a preliminary agreement for the sale of its enterprises comprising a portfolio of 28 retail facilities. This includes nine M1 shopping centres, four retail parks, 12 hypermarkets, and three DIY stores with a total leasable area of 700,000 square metres.

The transaction is worth nearly EUR 1 billion.

As part of the transaction, Magnusson provides the sellers with comprehensive legal services. The team of lawyers is led by Andrzej Tokaj, senior partner, and head of the real estate practice. Other team members includes Katarzyna Sawa-Rybaczek, partner, Dawid Demianiuk, senior associate, and Zuzanna Wencel-Czuryszkiewicz, associate.

“For many years, Poland has had a competitive commercial real estate market. It is with great satisfaction that we advise on a transaction whose sheer size confirms that this is still the case.” –said Andrzej Tokaj.

Lawyers from Magnusson have been rendering legal advice to Apollo-Rida since 1997. In the years 2003-2004, they advised the Apollo-Rida and Ares Management consortium on the acquisition of the entire 28-property portfolio currently being sold.

Members of the Apollo-Rida group carry out development and investment projects in the office, warehouse, and commercial real estate sectors of the Polish market.

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