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MAGNUSSON ADVISES APOLLO RIDA POLAND ON SALE OF PRIME DISTRIBUTION PARK

2013-04-19

Magnusson advised Apollo Rida Poland on the sale of the distribution park Żerań Park II to SEGRO for 43.2 million EUR.

The team has been led by Andrzej Tokaj and included, among others, senior associate Agnieszka Gawrzyał and associate Zuzanna Wencel.

The scope of work included advice to Apollo Rida Poland on all the legal aspects of the transaction. Magnusson has been involved in the Żerań Park project from its very beginning in 2001, when Apollo Rida Poland purchased undeveloped land in Warsaw’s industrial district Żerań from the automotive company FSO. Following the acquisition, Magnusson advised Apollo Rida Poland on all the legal matters related to development of distribution parks Żerań Park I and II. Żerań Park I (5, 000 sq m of lettable space) was sold to Heitman Central Europe Property Partners investment fund in 2004.

Żerań Park II comprises modern warehouses used for urban distribution and a small office totalling 49,900 sq m of lettable space. Customers at Żerań Park II currently include, among others, Farutex, Leroy Merlin, Peek & Cloppenburg, Rothenberger, Schenck Process and UCB Pharma.

Apollo Rida Poland is a joint venture of Rida Development Corporation, a United States based real estate development company, and AREA Property Partners, a leading international real estate fund manager. Since Apollo Rida started its business in Poland in 1996, Andrzej Tokaj has been constantly representing the client with respect to its operations and projects in Poland.

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