Wolf Theiss’s role included preparation of vendor due diligence for the sale of Atrium Tower sp. z o.o. (the owner of the building), as well as assisting AEW in agreeing to the commercial terms of an LOI and contract negotiations.
Atrium Tower, completed in 1998, is part of the Atrium complex in Warsaw’s financial district, one of the first Western-standard office developments in the Polish capital. Atrium was the first ever PPP project between the City of Warsaw and a private investor, with Skanska acting as both the investor and the general contractor, and played a key role in the transformation of the Polish capital’s working-class Wola borough into an office district during Poland’s post-communist economic transformation.
“I’m proud that our firm could play a role in the sale of this building, which contributed so much to Warsaw’s emergence as a business and financial hub during the past two decades,” said Tomasz Stasiak, the Wolf Theiss partner who led the real estate team working on the deal. “This deal shows that, thanks to its central location, elegant design and quality workmanship, Atrium Tower remains attractive to tenants and Investors two decades after its completion.”
In addition to Tomasz Stasiak, the Wolf Theiss team included lawyers Iwona Huryn and Ewa Parczewska.
AEW provides real estate investment management services to investors worldwide, managing a total of $70.3 billion of real estate assets and securities on behalf of many of the world’s leading institutional and private investors. The buyer, VIG, is one of the largest listed international insurance groups in Central and Eastern Europe.