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MAGNUSSON WARSAW ADVISES ON ONE OF THE LARGEST REAL ESTATE DEALS IN CEE IN 2017/2018

2018-01-05

On 4 January 2018, our client A-R-A Retail Centers consortium closed the sale of 28 shopping centres in Poland, a transaction worth nearly EUR 1bn. The Magnusson Warsaw team provided full service legal advice to the client on this complex deal.

It is one of the largest deals on the commercial real estate market in both Poland and the CEE region in 2017/2018.

In 2003-2004, Magnusson Warsaw lawyers advised the Apollo-Rida and Ares Management consortium on the acquisition of the entire 28-strong property portfolio. Following this transaction, Magnusson Warsaw continued to advise until the end of 2017 on the portfolio management, including financing, refinancing, leasing and extension. Magnusson Warsaw has been rendering legal services to Apollo-Rida since 1997.

The Magnusson Warsaw team was led by Andrzej Tokaj, senior partner, and head of the real estate practice. Other team members included, among others, Katarzyna Sawa-Rybaczek, partner, Dawid Demianiuk, senior associate, and Zuzanna Wencel-Czuryszkiewicz, associate.

A-R-A Retail Centers is owned by the Apollo-Rida, Ares Management, and AXA Group investment consortium. The 28-strong property portfolio 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 portfolio was sold to Chariot Top Group (a consortium of Oaktree, Pimco, and Redefine).

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