Linklaters advised Globalworth on the acquisition of the Skylight and Lumen office buildings

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Linklaters advised Globalworth Poland, the largest institutional office investor and landlord in the country, on the conclusion of a final purchase agreement with Unibail-Rodamco-Westfield for the Skylight and Lumen offices in Warsaw, part of the multifunctional Złote Tarasy complex. The transaction was valued at EUR 190 mln and is Globalworth’s largest acquisition to date.

The advice that Linklaters provided covered all legal aspects related to negotiating and concluding a final agreement for the acquisition of the rights and obligations in a general partnership, the owner of the office buildings, as well as regulating the principles of cooperation, use and management of the complex after Globalworth’s final purchase of the office buildings.

Lumen and Skylight offer a total of 45,000 m² of modern leasable space. They are considered among the most famous and prestigious office buildings, due to their prime location in the very center of Warsaw. The investment was carried out in accordance with sustainable construction standards, which is confirmed by the BREEAM certificate, and the current high occupancy rate.

Dimitris Raptis, Deputy Chief Executive Officer and Chief Investment Officer at Globalworth: “The purchase of Lumen and Skylight is our largest asset acquisition to date. Our strategy is to own assets in prime locations, within which we can create a strong sense of community, that fit in with the character of a given city and are suited to the dynamics of the local workforce. Skylight and Lumen offer centrally-located modern office space with excellent local amenities and transport connectivity. In our view, such buildings will prove to have long-term appeal for occupiers and investors alike, offering steady income, and will always be attractive assets within a portfolio. Following the purchase of the two buildings, our Polish portfolio will exceed 425,000 sqm GLA further consolidating our leadership in the Polish office market and reinforcing our aspirations in the CEE region.”

The transaction team at the Warsaw office of Linklaters was led by Michał Mieciński, counsel and Monika Lerka, senior associate, supported by Żaneta Rogoń, associate, Tomasz Trystuła, senior associate, Mateusz Cieślak, associate and Antonina Kozak, junior associate.

The real estate team was supported, among others, by Karol Macias, associate from the dispute resolution and arbitration practice, as well as Marta Bryjak, senior associate and Michał Maruszak, junior associate from the Projects practice. Piotr Zbyszyński, associate, advised on corporate matters and Wojciech Podlasin advised on competition law issues. Agnieszka Mencel, Head of the TMT/IP practice, supported by associate Szymon Sieniewicz, provided IP advice.