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Dentons assisted HB Reavis in securing historic €475 million financing for Varso Place development in Warsaw
Dentons assisted HB Reavis in securing historic €475 million financing for Varso Place development in Warsaw HB Reavis has received financing for the development of the Varso Place mixed-use building complex in the heart of Warsaw, with guidance from Dentons, one of the largest multinational law firms in the world. The financing, valued at €475 million, marks one of the...
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Dentons assisted HB Reavis in securing historic €475 million financing for Varso Place development in Warsaw
HB Reavis has received financing for the development of the Varso Place mixed-use building complex in the heart of Warsaw, with guidance from Dentons, one of the largest multinational law firms in the world.
The financing, valued at €475 million, marks one of the largest non-portfolio loans ever secured in the commercial real estate market in Poland and Central and Eastern Europe. The funds were procured through a consortium of banks, comprising Santander Bank Polska, Bank Pekao, Helaba, and Berlin Hyp.
Varso Place in Warsaw encompasses three buildings with a total of 144,000 sqm of leasable space. The buildings feature offices, a hotel, an innovation centre, and retail units. The development's centrepiece is the 310m Varso Tower skyscraper, which was completed in 2022. The Varso Place complex has been recognised in the industry with several awards, including the "Office Building of the Year," and holds certifications from the BREEAM (Outstanding) and WELL (Gold) programs.
HB Reavis received comprehensive assistance from Dentons, including support in the preparation, negotiation, and execution of finance documents, and guidance on tax and corporate matters related to the transaction.
Bartosz Nojek, a partner in Dentons' Banking and Finance team, expressed his satisfaction with the opportunity to support HB Reavis in their investment strategy, which he described as a source of great distinction for the firm.
"We are glad that we were able to once again advise the client on an exceptional financing of such a prestigious project as Varso Place," Nojek added.
Bartosz Nojek was supported by Aleksandra Czyż (senior associate) and Mateusz Ciechomski (associate) from the Banking and Finance team in assisting HB Reavis with the transaction.
Additionally, the team included Dariusz Stolarek (partner) and Maciej Sopel (senior associate) from the Tax team, Michał Wasiak (partner) and Natalia Greiner (associate) from the Corporate and M&A team, as well as Katarzyna Bilewska (partner), Wojciech Łysek (counsel), and Radosław Żygadło (associate) from the Litigation and Arbitration practice.
The transaction also involved a team of legal professionals from different Dentons offices, including Stéphane Hadet (partner), Christophe Renaudin (counsel), Yifan Zhang (senior associate), Jinjing Zheng (associate), and Arnida Alija (associate) from the Luxembourg office, who advised on Luxembourgish law, and Petra Štrbová (counsel) and Dávid Stanek (associate) from the Bratislava office, who assisted with the Slovak law aspects of the transaction.