We have helped a joint-stock company listed on the Warsaw Stock Exchange sell a property in the center of Kraków that is intended for an office complex with a GLA of more than 80,000 m2. The process of selling the real estate unfolded in three stages.
A Kraków-based entreprize initially sold the real estate to three different entities – one contract covered the land for the development of infrastructure for an office park (two office buildings); under the second contract, an entity purchased the land with the connectors and elements related to public roads that were not owned by the seller; whilst the third stage covered the sale to a German and American capital fund of a plot for the construction of an apartment building – it was a particularly complex transaction as it was based on a tripartite agreement with the creditor of the owner.
The difficulty we faced during the process was that creditors of the owner had revealed themselves, which created problems in running the matter smoothly. In connection with the transaction, we negotiated not only the main agreement, but also the accompanying contracts (which were encumbered due to the debt of the owner).