Hogan Lovells advised Xcity Investment Sp. z o. o. on the sale of the West Station office complex in Warsaw

The Warsaw office of Hogan Lovells advised Xcity Investment Sp. z o.o. (Xcity) in connection with the sale of the Warszawa Zachodnia (Warsaw West) Phase I and Phase II investment project consisting of the West Station office complex construction. The sale agreement was signed on May 9, 2019.

West Station is a joint investment of HB Reavis and Xcity comprising of two class-A office buildings with a total leasable area of 69,000 square metres located in the Warszawa Zachodnia railway station. The complex has received a BREEAM Interim ecological certificate at the Excellent level. The sale of the joint investment took place as a result of the investment agreement implementation, on which basis the investment was carried out.

Xcity is a development company responsible for investment projects within the PKP Group. The project was carried out using the joint venture formula between Xcity and both the PKP Group and HB Reavis and is one of the largest of its kind in Warsaw. The buyer of the office complex is Mapletree Investments - a leading global real estate investor based in Singapore.

Xcity was represented by the Hogan Lovells team (lawyers from the Warsaw office were also supported by members of the London team) composed of Andrzej Dębiec (Partner) who dealt with the tax aspects of the project, and Bartosz Clemenz (Counsel) responsible for the real estate issues and transaction documentation. The team was supervised by Marek Grodek (Partner) who heads the Real Estate practice in the Hogan Lovells Warsaw office. The transaction team also included:

Real estate practice: Ewa Kraszewska (Senior Associate), Michał Zajączkowski (Senior Associate), Marta Popis (Associate), Adam Nowosielski (Associate), Damian Gadomski (Associate), and Paweł Gnaś (Lawyer).

Tax practice: Zbigniew Marczyk (Counsel), Dorota Walerjan (Counsel), and Jan Starybrat (Associate).

In terms of value, this is one of the largest transactions in the Polish office sector so far this year.

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