Linklaters is advising Hines European Value Fund, acting through its subsidiary Gisla, on the acquisition of the Wola Center office building in Warsaw from Develia.
The parties have signed a preliminary agreement with the deal value set at EUR 101.9 million. The final agreement is expected to be signed by the end of 2019. Dentons advised Develia on the deal.
Gisla belongs to the Hines European Value Fund, a closed-end fund managed by Hines. The company’s main investment targets include office and commercial properties, as well as mixed projects on major European markets.
The Wola Center is a complex of office buildings in the Wola district of Warsaw that offers nearly 28,000 square meters of office space for rent and a two-level underground car park.
The Linklaters team included Partner Janusz Dzianachowski, Managing Associates Joanna Gawlicka and Agnieszka Mencel, Senior Associate Tomasz Trystula, Associate Jakub Kowal, and Junior Associates Michal Maruszak and Malgorzata Szafranska.
The Dentons team included Partner Bartlomiej Kordeczka, Senior Associate Martyna Racz-Suchocka, and Associate Alicja Grabowska.
Editor's Note: On February 5, 2020, Linklaters reported that the acquisition had been completed, and that "Wola Center now belongs to Hines European Value Fund 1." In addition to the lawyers identified previously, Linklaters announced that its complete team included Senior Associate Marcin Nowak.
