Dom Development acquires Buma’s residential portfolio

Greenberg Traurig advised Dom Development Group, one of the leading real estate developers on the Polish market, on the acquisition of 100 percent ownership stake in BUMA Group’s residential portfolio from Giovanni Fundusz Inwestycyjny Zamknięty.

The transaction comprises the takeover of selected construction and land bank companies holding investment land in Kraków with the potential to develop more than 1,300 residential units, as well as projects under construction. The value of the transaction is PLN 209.5 million.

The Greenberg Traurig team was led by Partner Karol Brzoskowski and Senior Associate Filip Janeczko. The transactional team also included Senior Associate Agnieszka Gul-Czajkowska and Associates Karolina Woźniak and Tomasz Drzewiecki. Local Partner Magda Życzkowska-Jóźwiak was advising on intellectual property transactional aspects.

“This is another complex portfolio transaction, following last year’s acquisition of BUMA Group’s office assets. We are proud to have gained our client’s trust and are looking forward to working together on future projects,” said Karol Brzoskowski, Partner in the Real Estate Practice.

Dom Development is the largest and one of the longest-running developers on the Polish market. The company has been active since 1996 and listed on the Warsaw Stock Exchange since 2006 (ticker: DOM). As of the end of 2020, the company has delivered 39,000 apartments and luxury suites.