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Closing: Wola Retro Office Building Sale Now Closed

Closing: Wola Retro Office Building Sale Now Closed

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On April 27, 2023, Act Legal BSWW announced that Develia's sale of the Wola Retro office building in Warsaw to Adventum (reported by CEE Legal Matters on February 3, 2023) had closed.

According to BSWW, the “transaction underscores the company's commitment to strategic investments that drive growth and enhance profitability, positioning it for continued success in the dynamic real estate market. Wola Retro is an office building, completed in 2019, located in Warsaw's Wola district, which was constructed as a result of the adaptation of a pre-war building in cooperation with the conservation officer. The complex offers a total of 25,900 square meters of office space.”

As previously reported, Dentons had advised Develia on the EUR 70 million sale of building to the Adventum Group, while Act BSWW advised Adventum.

According to Dentons, "the investment, apart from two newly built A-class office buildings, also comprises an existing modernist building from the 1930s, adapted for the needs of modern offices in cooperation with a conservationist." Both Dentons and Act BSWW also advised on Develia's previous sale of the Sky Tower to Adventum (as reported by CEE Legal Matters on September 27, 2021).

Develia is a Wroclaw-headquartered real estate development group carrying out residential and commercial investments in Warsaw, Wroclaw, Krakow, Gdansk, Lodz, and Katowice.

The Adventum Group is an investment fund manager focused on Central European real estate investments.

The Dentons team included Partner Bartlomiej Kordeczka, Counsel Martyna Racz-Suchocka, and Senior Associate Kornelia Borowiec.

The Act BSWW team included Partners Marta Kosiedowska, Marek Wojnar, and Michal Soltyszewski, and Lawyer Aleksander Krzemien.

Dentons at a Glance

Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.

Dentons is one of the leading law firms in CEE/CIS, with offices in Warsaw, Prague, Budapest, Moscow, Bucharest, Bratislava, Kyiv, Baku, Almaty, Astana, Tbilisi and Tashkent. With a legacy of supporting local and international clients in Central and Eastern Europe since the early 1990s, we have the experience and market insight to help clients close deals, resolve disputes and do business in the key markets across the region.

Firm's website.