Greenberg Traurig advised Panattoni Development Europe on the transaction related to the planned development of a logistic park on a plot located near Warsaw. Advice on the transaction included aspects of the financing for the project as well as negotiation and signing of the agreement relating to the development of the project.
The transaction completed the acquisition by Panattoni of a property portfolio, consisting of three projects. The first project was finalized in February 2020 and relates to the development of a logistic park in Poznań. The second transaction was closed in April 2020 and involved the planned development of land with a logistic project in Stryków.
The developed projects will have a joint warehouse space of 215,000 sqm, and the total value of the three projects amounts to EUR 132 million.
All three transactions were led by Associate Aleksandra Kaczmarek, supported by Associate Jakub Gajzler and supervised by Local Partner Małgorzata Madej-Balcerowska. Partner Jolanta Nowakowska-Zimoch provided strategic advice on the transactions.
The transactions in April and June were negotiated and signed under extraordinary circumstances due to the coronavirus (COVID-19) pandemic and with preserving all safety measures for all its participants.
“Advising Panattoni on the portfolio transactions closed by our real estate team in challenging market conditions is a positive sign for all players in the real estate market, as it shows the logistic sector remains very active despite the turbulent circumstances,” said Jolanta Nowakowska-Zimoch, Partner and Head of the Real Estate team in Poland.
Panattoni Europe is the European branch of one of the world’s largest industrial developers, the Panattoni Development Company, and is currently celebrating its 15-year presence on the European market.