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Dentons and SSW Pragmatic Solutions Advise on Financing for CIM Acquisition of Warsaw's Warta Tower

Dentons and SSW Pragmatic Solutions Advise on Financing for CIM Acquisition of Warsaw's Warta Tower

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Dentons has advised Cornerstone Investment Management and its joint venture partner on the financing for their acquisition of the Warta Tower office building in Warsaw and related capital expenditure. SSW Pragmatic Solutions advised lenders Santander Bank Polska and Erste Group Bank AG.

According to Dentons, the transaction is valued at more than EUR 63 million. The Warta Tower office building has 20 floors and over 33,000 square meters of leasable space. "In the hands of the new owners, the skyscraper will be redeveloped to meet the highest market standards and provide modern workspaces. The modernization work will take until 2025."

Cornerstone Investment Management is a private equity investment management firm.

The transaction itself was initially announced in 2021, when Dentons advised Cornerstone Investment Management platform 5th Corner on the EUR 123 million acquisition of five Warsaw office buildings, including Warta Tower, from Globalworth (as reported by CEE Legal Matters on October 12, 2021).

The Dentons team included Partner Tomasz Zwolinski and Counsels Jakub Zienkiewicz and Ewelina Klein.

The SSW team included Partners Ilona Fedurek and Andrzej Wloch, Senior Associates Piotr Bartos and Karolina Ostrowska, and Associate Filip Grabowski.

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.