DLA Piper advises KGAL on the acquisition of Villa Office in Warsaw from Echo Investment
DLA Piper has advised KGAL Investment Management (KGAL), a leading European independent investment and asset manager, on the acquisition of the Villa Office in Warsaw from Echo Investment, for EUR86.7 million.
With this acquisition, KGAL is expanding its managed real estate portfolio in the Polish capital.
Villa Office is a modern multi-tenant office building with 16,700 square meters, located in an attractive central location of Warsaw, part of the Browary Warszawskie complex. It was completed in 2020 and has a BREEAM Excellent rating. It is part of a larger district development project on a former brewery site, where 50,000 square meters of office space and 10,000 square meters of restaurant space will be built alongside 1,000 residential units. The majority of Villa Office is already leased on a long-term basis to high profile international companies.
The DLA Piper Warsaw-based team was led by Poland Co-Managing Partner Jacek Giziński assisted by senior associate Sylwia Czerwik, associate Paulina Galicka (all Real Estate), senior associate Sławomir Mikołajuk (Tax). Counsel Bartłomiej Palusiak and junior associates, Alicja Ciebiera and Ewelina Paciorek from the Banking & Finance team also advised on the transaction.
KGAL is a leading independent investment and asset manager with assets under management of around EUR11.2 billion and assets under administration of EUR4.0 billion. The focus of the investments is on long-term real capital investments for institutional and private investors in real estate, infrastructure and aircraft. The group, which operates throughout Europe, was founded more than 50 years ago and is headquartered in Grünwald near Munich. 345 employees contribute to achieving sustainably stable earnings, taking into account return and risk aspects (as of 31 December 2020).