act legal Poland advises Adventum on EUR 84m acquisition of Sky Tower

Adventum Group, an investment fund manager operating internationally, is at the final stage of the EUR 84.42 million acquisition of Sky Tower, a landmark development in Wrocław, one of Poland’s biggest and highest mixed-use projects.
Develia S.A. (the seller) and Adventum Group (the buyer) have entered into the preliminary sale agreement, with the final agreement slated to be signed until the end of 2021.

act legal Poland (act BSWW legal & tax) has provided Adventum with comprehensive legal assistance with respect to the preliminary agreement, and will continue to do so until the project’s completion. The services rendered by the law firm included due diligence of the property, drafting transaction-related documents, and negotiation support.

The project team was led by Marta Kosiedowska (Partner) and Marek Wojnar (Managing Partner co-heading the law firm’s real estate practice). The due diligence audit was prepared under the supervision of Katarzyna Marzec (Partner). The transactional team was supported by Anna Sawaryn (Senior Associate).

“The rapid expansion of Adventum’s portfolio in Poland is very impressive. We are proud to have earned the trust of one of the fastest-developing funds on the Polish market,” says Marta Kosiedowska, Partner at act BSWW legal & tax.

“Adventum’s portfolio is growing to above 125,000 m² of office space with this transaction. Sky Tower expands Adventum’s retail presence in Poland. We are delighted to support this Client yet again in such prestigious acquisition,” adds Marek Wojnar, Managing Partner at act BSWW legal & tax.

Sky Tower is one of the highest office, commercial and residential complexes in Poland (212 metres and 50 floors). Apart from over 30,500 m² of leasable office space, the project covers commercial space (25,000 m²), luxury apartments, comprehensive leisure facilities, and a multi-level underground car park. The total area of the building is approx. 171,000 m².

Adventum Group is a group of boutique investment fund management companies focused on Central European real estate investments. The Group’s personnel includes highly experienced real estate professionals with CFA, NRW and MRICS qualifications, with a combined investment experience of 70+ years. The group has so far executed investments in the CEE region with a total value of over EUR 1.5bn.

The seller was represented by Dentons.