June 2020

Penteris Advises on Large Real Estate Transaction

Penteris guided, advised and represented Apollo-Rida, a consortium based in Houston-Texas and Warsaw-Poland as well as US- and UK-based Ares Management in their purchase of three buildings in Kraków. The acquisition of the A-class ‘Equal Business Park’, developed by the innovative team at Cavatina Holding was worth EUR 100 million, one of the biggest transactions of its kind during the global lockdown.

The standout project was managed and coordinated in real-time, online and ‘offline’ by Andrzej Tokaj and Katarzyna Sawa-Rybaczek. We successfully brought the transaction to a close thanks to the hard work and smart cooperation of our dynamic team. This included Izabela Bogucka and Kamil Osowski; our due diligence experts Iga Piotrowska, Alicja Dzienisik, Sebastian Janicki, Ludwika Olszewska, Piotr Bobrowski; our financing specialists Łukasz Czerepak, Agnieszka Wisła, and our tax and corporate expert Kamil Stelmach. Our clients were also supported by the editorial talents of Agnieszka Sokołowska as well as the safe hands of Joanna Jaroszewska, Urszula Kalinowska and Patrycja Kamińska who supported the legal team night and day.

Equal Business Park consists of four Class A office buildings, situated in Kraków’s Podgórze district. It offers comfortable office space and a canteen, bookshop, kindergarten, beauty salon, café, shop, and green zone enriched with architecture and art. The fourth stage of the investment (over 11,300 m2) is currently in development. In total, Equal Business Park will cover approx. 60,641 m2 of office and service space. Renowned companies that will relocate here include Integer (InPost), QVC, Kimberly Clark, Aptiv, Equiniti, Kingfisher, Delphi Technologies, Regus, and Krakowskie Zakłady Automatyki.