Dentons’ Real Estate team has advised the Lithuanian fund management company, 1 Asset Management (1AM), on the acquisition of two buildings belonging to the Lipowy Office Park office complex in Warsaw from the Hungarian investment company Futureal Group. The Lithuanian investor plans to invest approximately €50 million to adapt the purchased properties to purpose-built student accommodation for students and young professionals.

Lipowy Office Park is a modern complex comprising four office buildings located in Warsaw's Ochota district, close to the Fryderyk Chopin Airport in Okęcie. It was built in 2009 by Hochtief Development and offers tenants 40,000 sqm of A-class office space. The two acquired buildings, with a combined area of approximately 21,000 sqm, will be used to create 650 modern rooms for rent to students and young professionals.

Partner Piotr Szafarz, Head of Dentons’ Real Estate practice in Poland and Central and Eastern Europe, led the team with the support of senior associate Joanna Popławska and associate Agnieszka Jaworska.

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