Dentons has advised Cornerstone Investment Management, a private equity investment management firm, and its joint venture partner in the project, on the financing of the acquisition of and capital expenditure in respect of the Warta Tower office building in Warsaw, Poland. The property was acquired from Globalworth, a real estate investment firm. The transaction is valued at more than €63 million. The financing was granted by Santander Bank Polska and Erste Bank.

Dentons provided legal assistance in negotiating and executing the finance documents and documents related to the acquisition of the building.

The transaction was supervised by Tomasz Zwoliński (partner) and led by Jakub Zienkiewicz (counsel) from the Banking and Finance team in Warsaw. In addition, Ewelina Klein, counsel in the Real Estate practice, advised on the documents related to the acquisition of the building.

The Warta Tower office building has 20 floors and over 33,000 sqm of leasable space. In the hands of the new owners, the skyscraper will be redeveloped to meet the highest market standards and provide modern workspace. The modernization work will take until 2025.

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