Dentons has advised Cavatina Holding, a developer of commercial real estate, on the sale of a 65% stake in a joint venture company, holding Chmielna 89 office building in Warsaw, to Madison International Realty (Madison). Currently, Cavatina maintains its 35% stake in the joint venture, and will continue to manage the property in cooperation with Madison.

Located between Chmielna and Aleje Jerozolimskie, a business area in central Warsaw, the crystal-shaped Chmielna 89 office building offers more than 25,000 sq. m. of lettable space on 14 floors. Chmielna 89 was lauded at the 2018 International Property Awards in London for its original visual form and energy-efficient solutions, winning the “Best Office Development in Poland”, “Best Office Development In Europe” and “Best International Office Development” awards.

The project was brought to completion by Dentons and the consultancy firm CBRE. On behalf of Dentons the transaction was led by partner Bartłomiej Kordeczka and senior associate Martyna Racz-Suchocka. They were supported by senior associates Hanna Żarska and Arkadiusz Dębski, as well as associates Joanna Fidecka and Paulina Kornas. Managing counsel Piotr Nerwiński and senior associate Magdalena Kalińska advised on the financial aspects of the deal, while managing counsel Tomasz Krasowski and senior associate Marcin Czajkowski rendered tax advisory services.

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