CMS advises in the acquisition of “Nowogrodzka Square” office building

CMS has advised the French real property fund, Amundi, in its debut investment in Poland: the acquisition of the “Nowogrodzka Square” office building in the heart of Warsaw from the property developer Yareal.  

 

“Nowogrodzka Square” is a Class A office building with a surface area of 11,529 m2, together with 147 parking places in the underground carpark. The building was made available for use in autumn 2018.

 

The office building – built in accordance with the strict requirements of the BREEAM sustainable construction system – has been certified “BREEAM Excellent”. Beside the building there is an arcade creating a green pedestrian area open to the general public, connecting the building with Aleje Jerozolimskie and ul. Nowogrodzka. In recognition of its contribution to the city’s development, the building recently received the Grand Prix and prize for the best commercial building in the Architectural Prize competition organised by the President of Warsaw.

A team of lawyers from the CMS Real Estate and Construction Department worked on the transaction. The team was headed by Anna Brzoza-Ostrowska, partner, and comprised: Justyna Bartnik, lawyer, Mateusz Wosiek, counsel and Katarzyna Szostak, senior associate. Łukasz Dynysiuk, partner, supported by Rafał Dostatni, associate, from the tax team advised on tax issues of the transaction.