Greenberg Traurig, LLP represented Cromwell European Real Estate Investment Trust (CEREIT), through its subsidiaries, on its acquisition of 16 predominantly freehold office properties in Poland, the Netherlands, and Finland, with the total purchase consideration for the portfolio being EUR 324 million.
The acquisition was financed through both an underwritten and renounceable rights issue on the Singapore Exchange Securities Trading Limited announced on 30, October 2018, and debt financing provided by Skandinaviska Enskilda Banked Ab (Publ), Frankfurt Branch and Société Générale S.A., Frankfurt Branch.
The transaction, according to published reports, will increase CEREIT’s total portfolio value from approximately EUR1.4 billion to EUR1.8 billion, enhancing the size, scale, and diversification of the portfolio and that it provides access to brand new markets in Finland and Poland, which are among the fastest growing in Europe, while reportedly strengthening CEREIT’s position in the Dutch office markets.
Greenberg Traurig’s deal team was led in London by Corporate Shareholder Sarah Moyles (Picture) and included Associates Emma V. Bosworthand Daniel M. Woolston; in Warsaw by Shareholder Radomil Charzynskiand included Senior Associate Karolina Olko and Associates Milena Medrzycka, Maxymilian Rybczynski, and Jakub Gajzler; and in Amsterdam by Shareholders Jan Kees Brandse and Paul Westhoff and included Associates Jeroen van den Hamer, Radboud de Wit, and Suzanne Walstra.
Involved fees earner: Emma Bosworth – Greenberg Traurig; Jan Kees Brandse – Greenberg Traurig; Radomił Charzyński – Greenberg Traurig; Radboud de Wit – Greenberg Traurig; Jakub Gajzler – Greenberg Traurig; Milena Mędrzycka – Greenberg Traurig; Sarah Moyles – Greenberg Traurig; Karolina Olko – Greenberg Traurig; Maxymilian Rybczyński – Greenberg Traurig; Suzanne Walstra – Greenberg Traurig; Paul Westhoff – Greenberg Traurig; Daniel Woolston – Greenberg Traurig;
Law Firms: Greenberg Traurig;
Clients: Cromwell Property Group;