Bird & Bird’s Warsaw office lawyers recently advised Bank Pekao S.A., the second largest Polish bank, on a financing granted to a company from Karimpol Group, an Austrian investor and one of the most successful privately held real estate developers in the CEE region. The financing is intended for the construction of an A class Skyliner II office building, to be located at ul. Prosta 67 in Warsaw, a phase two of the investment project that includes the existing Skyliner I office building, located next to the constructed Skyliner II. The credit facility granted is approx. EUR 50 million in total.
Bird & Bird provided Bank Pekao S.A. with a comprehensive legal advice on the transaction, in particular performing the legal due diligence of both the borrower and the financed real property, preparing and negotiating credit documentation with the borrower and other Karimpol Group companies, and closing the transaction.
Bird & Bird team was led by Olga Koszewska (Counsel, Financing Transactions), who was assisted with respect to the financing by: Krzysztof Wiśniewski (Senior Associate, Financing Transactions) and Katarzyna Blusiewicz (Junior Associate, Financing Transactions), and for the legal due diligence by Piotr Jaworek (Senior Associate, Real Estate) and Mateusz Laska (Junior Associate, Real Estate). The whole Bird & Bird team was supervised by Maciej Georg regarding the financing (Partner, Financing Transactions) and by Marcin Świerżewski regarding the legal due diligence (Partner, Real Estate).
“We are very proud of our long-standing cooperation with Bank Pekao S.A. and Karimpol Group, which began long before Skyliner II and the previous financing of the Skyliner I project. Our team of lawyers provided comprehensive legal advice that enabled the successful completion of financing for construction of the Skyliner II office building. We continued our mission of delivering top-quality legal services, supporting our client in realising its ambitious project. Our unwavering commitment to providing tailor-made legal solutions is the foundation of a good client relationship, and we look forward to contributing to future projects, supporting Bank Pekao S.A. with our expertise”, said Olga Koszewska.
“We are delighted that Karimpol has once again chosen Bank Pekao S.A. to finance its Skyliner II Project. This is our next project where, together with Bird & Bird as our legal advisor, we are cooperating with Karimpol Group. The expertise and dedication demonstrated by Olga Koszewska and her team have been at the highest level. Comprehensive legal advice and adept negotiation skills have ensured a smooth and efficient transaction process. We value Bird & Bird’s professionalism and commitment and look to continuing our cooperation on future projects.”, said Dieter Lobnig Director of the Investment Banking and Real Estate Finance Department of Bank Pekao S.A. and Karolina Różalska and Piotr Kwadrans who were directly involved in this transaction.
“We are extremely proud to continue our collaboration with Bank Pekao S.A. on such a significant project as the construction of Skyliner II. This marks the next chapter in our long-standing partnership, which began with the financing of the first Skyliner. We are also pleased that our partner was supported by the experienced legal team at Bird & Bird during this transaction. Their expertise played an important role in ensuring a smooth and efficient process for all parties involved. With the trust and support of such a renowned institution, we can further pursue our vision of delivering modern, high-quality office spaces in Warsaw that meet the highest sustainability standards. We believe Skyliner II, like its predecessor, will become a key landmark in the capital, setting a new benchmark for future developments of this scale” – said Harald Jeschek and Andreas Prokes, Partners and Board Members in Karimpol Group.
