The Warsaw office of Hogan Lovells has advised the ISOC Group on the acquisition of three class A Business Garden Wroclaw I office buildings from Vastint Polska. Magnusson advised the seller on the deal.
Business Garden is a modern office complex that offers 117,000 square meters of office and service space, which according to Hogan Lovell, together with nine other office buildings and its garden, will eventually occupy an area of seven hectares. The first completed stage of the investment involved the construction of three office buildings with a total leasable area of 37,000 square meters, and an additional restaurant pavilion.
The property is 100% leased to such companies as Becton Dickinson, Capgemini, Dolby Laboratories, and Ceneo.
The ISOC Group is a real estate and industrial infrastructure investment company based in the Philippines, with its registered office in Manila.
Vastint is an international real estate organization that focuses on managing portfolio properties and commercial real estate development, including residential development and sales.
This transaction is ISOC's third in the Polish market on which Hogan Lovells has advised, following its acquisition of the Silesia Business Park office buildings (as reported by CEE Legal Matters on January 3, 2019), and the Argon building in Gdansk (as reported on March 12, 2019).
The Hogan Lovell team consisted of Partners Marek Grodek and Andrzej Debiec, Counsels Bartosz Clemenz, Ewa Kacperek, and Zbigniew Marczyk, Senior Associates Michal Zajaczkowski, Ewa Kraszewska, Mateusz Dereszynski, Associates Marta Popis and Jakub Baczuk, and Lawyers Weronika Wolosiuk, Adam Nowosielski, and Pawel Gnas.
The Magnusson tea consisted of Senior Partner Andrzej Tokaj and Partner Dawid Demianiuk.
