REINO Capital and RF CorVal’s Acquisition of BUMA Group

Greenberg Traurig advised REINO RF CEE Real Estate, the Luxemburg-based fund created as part of the strategic cooperation between REINO Capital and the Australian fund, RF CorVal, on the preliminary purchase agreements regarding the acquisition of the entire BUMA Group real estate portfolio.

The estimated value of the portfolio, which includes office buildings and mixed used (office and residential) development projects, is over PLN 1.3 billion. This transaction will also include further acquisition of all operational companies that are part of BUMA Group.

In June 2019 REINO Capital, a commercial real estate holding company listed on the Warsaw Stock Exchange, signed a strategic partnership agreement with Australian investment company RF CorVal, to invest in a common asset management platform for the CEE region. RF CorVal is an Australian-based real estate fund manager with assets worth around USD 2 billion.

BUMA Group has been operating on the Krakow market since 1991 and is the oldest developer on this market. Over 25 years, the company has constructed about 2000 apartments, 300 single-family houses and office buildings with the leasable area of 260 000 sqm.

The Greenberg Traurig team was led by Local Partner Karol Brzoskowski (Picture). The multidisciplinary team of experts included also: the real estate team – Senior Associate Kamil Majewski and Associate Filip Janeczko; the corporate team – Senior Associate Filip Kijowski and Associate Tomasz Denko; the banking and finance team – Senior Associate Pawel Jaskiewicz and Associate Maja Gawrysiuk; the employment team – Local Partner Anna Halas-Krawczyk and Associate Natalia Wolkowycka, and the antimonopoly team – Senior Associate Radoslaw Pawluk and Associate Filip Drgas. Partner Andrzej Wysokinski, supported by Senior Associate Paulina Kimla-Kaczorowska, was responsible for negotiations of the JV agreement between REINO Capital and RF CorVal.

Involved fees earner: Karol Brzoskowski – Greenberg Traurig; Tomasz Denko – Greenberg Traurig; Filip Drgas – Greenberg Traurig; Maja Gawrysiuk – Greenberg Traurig; Anna Ha?as-Krawczyk – Greenberg Traurig; Filip Janeczko – Greenberg Traurig; Pawe? Ja?kiewicz – Greenberg Traurig; Filip Kijowski – Greenberg Traurig; Paulina Kimla-Kaczorowska – Greenberg Traurig; Kamil Majewski – Greenberg Traurig; Rados?aw Pawluk – Greenberg Traurig; Natalia Wo?kowycka – Greenberg Traurig; Andrzej Wysokinski – Greenberg Traurig;

Law Firms: Greenberg Traurig;

Clients: REINO RF CEE Real Estate;

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