February 2021

Penteris Advises on Jerozolimskie Business Park Acquisition

Penteris has advised foreign investors on the acquisition of Jerozolimskie Business Park.

The complex of four office buildings located at 146 Aleje Jerozolimskie in Warsaw has been acquired by a joint venture formed by Rida Development Corp and Mack Real Estate Group of New York. Apollo-Rida Poland, the Polish arm of Rida Development Corp will serve as the investment manager and property manager for the transaction.

Penteris provided comprehensive transactional support, as well as advising on project financing. The team, led by Andrzej Tokaj, comprised Izabela Bogucka and Ludwika Olszewska (real estate), Irmina Kondraciuk (corporate), and Artur Plutowski (tax), with Katarzyna Sawa-Rybaczek and Łukasz Czerepak advising on the financial aspects of the transaction.

Additional legal support was provided by Sebastian Janicki, Iga Piotrowska, Alicja Dzienisik, Kamil Osowski, and Wiktor Pękul. Thanks also go to the Penteris translation team of Agnieszka Sokołowska and Ania Rucińska as well as the tireless paralegal work of Joanna Jaroszewska, Patrycja Kamińska, Katarzyna Kacprzak, Urszula Kalinowska, and Martyna Zagrzejewska.

Jerozolimskie Business Park is situated near the Polish State Railways station ‘Warszawa Zachodnia’ and the Warsaw Commuter Railway station ‘Reduta Ordona’, in the vicinity of one of the main arteries of the Polish capital. Completely renovated in 2015-2017, the office complex is only 15 minutes away from the heart of Warsaw and Warsaw Chopin Airport.