Marvipol Development sells three residential projects in Warsaw

Greenberg Traurig advised companies in the Marvipol group on the conclusion of preliminary agreements regarding the development and sale of residential and commercial units in three build-to-rent residential projects to the Swedish company Heimstaden Bostad.

The projects to be developed by Marvipol will include 647 residential units with an option to acquire additional 60 apartments as well as commercial units and parking spaces in projects, located in the Wola, Służewiec and Włochy districts of Warsaw.

The total usable area of the projects will exceed 30,000 sqm, and the transaction value amounts to PLN 380.9 million.

The Greenberg Traurig team was led by Partner Agata Jurek-Zbrojska, supported by Senior Associate Filip Widuch, a lawyer from the real estate department.

“The transaction on which we advised Marvipol is one of the first and, undoubtedly, the largest transaction of this type on the Polish real estate market. Resi for rent transactions will become an important element of the 2021 investment market due to an increasing number of entities interested in the private rental segment. Within the Greenberg Traurig Warsaw real estate practice, we created a dedicated team of lawyers specialized in this area and we are actively expanding our client portfolio in this sector,” said Partner Agata Jurek-Zbrojska, Head of the GT Warsaw REsi Group.

“Our team’s ambition is to advise clients on complex and innovative transactions, which is well reflected in our work on Marvipol’s latest transaction,” said Jolanta Nowakowska-Zimoch, Partner and Head of the Real Estate team in Poland.

Marvipol Development S.A. is one of Poland’s top real estate developers, operating in two main segments: residential and industrial.

Heimstaden Bostad is a European residential property owner and operator. Currently, the company owns over 100,000 residential units in Norway, Sweden, Denmark, the Netherlands, Germany, Poland and Chechia.