Dentons US LLP

09/14/2021 | Press release | Distributed by Public on 09/15/2021 04:23

Dentons advises on the sale of Sky Tower office building in Wrocław

September 14, 2021

Dentons' Real Estate team in Warsaw has advised Develia, a Polish property developer, on the conclusion of a preliminary agreement with Olimp Investment for the sale of a 79.55 percent stake in the Sky Tower office building in Wroclaw worth €84.4 million. The buyer is a company belonging to an investment fund managed by Adventum Group.

Sky Tower is a commercial property with office, retail and luxury residential space offering 171 000 sq.m. of gross floor area (GFA). Commissioned in 2013, the building is the first skyscraper developed in Wrocław and one of the tallest office buildings in Poland. The office space occupies more than 30,500 sq.m. and the retail space, designed for boutiques, art galleries, cafeterias, restaurants and service points, covers 25,000 sq.m. The recreational area includes an entertainment gallery, SPA, sports and medical center. The property also offers 1,500 parking spaces.

The transaction, supervised by partner Bartłomiej Kordeczka, Deputy Head of the Real Estate practice in Poland, was led by counsel Martyna Racz-Suchocka with the support of associate Karolina Ostrowska.

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