Wolf Theiss advises consortium of three banks on EUR 270 million refinancing of 11 office buildings owned by subsidiaries of Cavatina Holding 

 Warsaw, 3 October 2025 – Wolf Theiss advised a consortium of three banks: Erste Group Bank AG, Berlin Hyp and RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG on the EUR 270 million refinancing of 11 office buildings owned by subsidiaries of Cavatina Holding, one of the largest Polish developers of office space. This marks a major real estate financing transaction on the Polish market this year. 

The Wolf Theiss team provided comprehensive legal support throughout all stages of the transaction, including legal due diligence, drafting and negotiating the facility agreement based on the LMA standard, preparing all related security documentation and assisting the banks in verifying the conditions precedent. 

 The legal due diligence report, covering 11 properties and 10 borrowers, posed a considerable challenge due to the volume and complexity of documents, as well as the broad spectrum of legal issues across multiple areas of law. The process required careful coordination, consistency and a strong focus on regulatory nuances, all within tight transactional timelines. The mere refinancing of existing indebtedness required negotiations with nine financial institutions to ensure timely utilisation of the loan. 

Wolf Theiss acted as lead counsel for the banks. The team was led by Partner Przemek Kozdój (Banking & Finance), supported by Senior Associate Jan Gąsiorowski (Banking & Finance), Partner Nicholas Coddington (Banking & Finance), Counsel Iwona Huryn (Real Estate & Construction) and Associates Nina Sędkowska, (Banking & Finance), Maria Markowska-Zalewska (Banking & Finance), Anna Herbetko (Real Estate & Construction), Jan Pruski (Real Estate & Construction) and Kamil Król (Real Estate & Construction). The team also included members of the Austrian tax practice: Partner Niklas Schmidt, Counsel Eva Stadler and Associate Iris Erlacher.