Greenberg Traurig represented Capital Park on the transaction involving the sale of a property to be developed with a residential and commercial project to Marvipol Development.
The property, which is located at Aleje Jerozolimskie in the Ochota district of Warsaw, has a total area of nearly 6,000 sqm. A building permit for the property has already been obtained. The value of the transaction amounts to €20 million. The project to be developed by Marvipol Development includes 500 residential and commercial units.
The transaction was led by Senior Associate Kamil Majewski who was supported by Associate Alicja Flis. Partner Radomił Charzyński provided strategic advice and supervised all work on the transaction.
“We are delighted to have been able to advise Capital Park again on finalizing the sale of the property in such a significant business location in Warsaw,” said Radomił Charzyński, Partner in the Warsaw office real estate practice.
Capital Park is an experienced and recognized investment company on the real estate market in Poland, listed on the Warsaw Stock Exchange for 6 years. The Group has created a high-quality real estate portfolio consisting of modern A-class office and commercial space – the Royal Wilanów office building and is currently developing a flagship revitalization project – the former Norblin Factory area in Warsaw’s Wola district. The Group manages a property portfolio with a total area of 213,000 sqm and a market value of PLN 1.8 billion, of which 79 percent are properties located in Warsaw – the most promising commercial real estate market in Central and Eastern Europe.