Penteris has advised a joint venture formed by Rida Development Corp and Mack Real Estate Group on its acquisition of the Jerozolimskie Business Park in Warsaw from A&T Holdings. Linklaters advised the seller on the deal.
Financial details of the transaction were not disclosed.
Jerozolimskie Business Park is a complex of four office buildings consisting of 16,000 square meters of space and nearly 400 parking spots. Tenants of the complex include Wydawnictwo Nowa Era, PGNiG, Gaz-System, Macmillan Polska, and Intel Technologies.
Rida Development is a Texas-based real estate developer in the office, residential, industrial, hospitality, and retail sectors. The company has offices in Orlando, Denver, and Warsaw.
Mack Real Estate Group is a New York-based integrated developer, operator, investor, and lender operating in the real estate sector.
According to Penteris, “Apollo-Rida Poland, the Polish arm of the Rida Development Corp., will serve as the investment manager and property manager for the transaction.”
The Penteris team consisted of Senior Partner Andrzej Tokaj, Partner Katarzyna Sawa-Rybaczek, Head of Tax Artur Plutowski, Senior Associates Sebastian Janick, Iga Piotrowska, and Izabela Bogucka, Associates Irmina Kondraciuk and Kamil Osowski, and Junior Associates Ludwika Olszewska, Alicja Dzienisik, Wiktor Pekul, and Lukasz Czerepak, among others.
The Linklaters team included Warsaw-based Partner Janusz Dzianachowski, Managing Associate Tomasz Trystula, Senior Associate Marcin Nowak, Junior Associate Mateusz Korecki, and Amsterdam-based Associate Ruth van der Haar.