Two leading Warsaw law firms, Dentons and Gide Loyrette Nouel, acted in one of the most prestigious real estate transactions in recent years ‒ the acquisition of Galeria Dominikańska, one of the largest shopping centers in Wrocław. The Buyer, Atrium European Real Estate, was advised by Dentons, while the Seller ‒ a joint venture of the Otto Family and Deutsche EuroShop AG ‒ was represented by Gide Loyrette Nouel. The project is valued at €152 million.
The transaction was financed internally by the buyer and will take effect upon approval by the Office for Competition and Consumer Protection (UOKiK).
Galeria Dominikańska, opened in 2001, is the first modern metropolitan shopping center in Wrocław and has a total retail area of 32,900 sq. m., featuring 102 stores and service points.
Atrium European Real Estate is a major group managing large stores and shopping centers in Central and Eastern Europe. It has a €2.2 billion portfolio including a total of 156 retail properties and shopping centers in seven countries.
ECE Projektmanagement has been operating for 40 years in Europe, including over 15 years in Poland. It focuses on investments in downtown malls. After closing the sale transaction ECE Projektmanagement will continue as manager of Galeria Dominikańska.
Dentons’ advisory was provided by Tomasz Stasiak (partner) and Anna Garbula-Węgrzynowska. On the Seller’s part the project was overseen by Marcin Muszel, partner in charge of the real estate practice of Gide Loyrette Nouel. The team also included Tomasz Roszczyc, Krzysztof Ciepliński and Szymon Chwaliński.
We are glad we could assist our client in the transaction. It proves that services rendered by our law firm combine local experience and knowledge of the special nature of the Polish market with the resources of the international Dentons group – said Tomasz Stasiak, partner of the real estate group.