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MAGNUSSON ADVISED UBS REAL ESTATE ON THE PROPERTY DISPOSAL IN POLAND

2016-05-19

Magnusson advised UBS Real Estate GmbH, acting in its capacity as advisor for a German depositary bank that is currently administrating the German Special-AIF UBS (D) Sector 3 Real Estate Europe, in connection with the sale of the Nova Praga office building in Warsaw to Mazovia Capital. The building will now be known as Mazovia Plaza.

Mazovia Plaza located in the North Praga district and a six-minute walk from the Wileńska metro station is a seven-storey building offering approximately 6,000 sq. m. of office, retail and storage space. The property offers 76 parking spaces. The transaction was closed in May 2016.

Magnusson provided UBS Real Estate GmbH with comprehensive legal advice concerning the transaction, including assisting in the legal due diligence process, drafting, negotiating and executing the sale agreement along with auxiliary agreements. Cushman & Wakefield was acting as real estate advisor and broker of the seller.

The Magnusson team advising UBS Real Estate GmbH was led by partner Michał Siwek. The team was composed of senior associates Bartosz Dębski and Dawid Demianiuk and an associate Zuzanna Wencel-Czuryszkiewicz.

Michał Siwek, partner at Magnusson, commented, “We are very glad that as a result of a long and intensive process we have successfully completed this transaction together with the Investment Team of UBS Real Estate and Cushman & Wakefield. The Warsaw Praga district is a vibrant and fast evolving area. Following Praga 306 project, in which we were also involved, the ownership change of Mazovia Plaza is one of many developments, which this quarter will definitely see in the coming years”.

 

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