Valesco Group And AIP Asset Management’s €120 Million Acquisition Of Twin City Tower


Ashurst and Kinstellar advised Valesco Group (“Valesco”) and AIP Asset Management (“AIP”) on the first South Korean investment into Slovakian real estate with the €120 million acquisition of the newly developed landmark Twin City Tower from HB Reavis.

Located in the Nove Nivy zone, a core location in Bratislava’s new CBD, the building was completed at the end of 2018. Already 100% let, principally to Amazon, the 23 storey office tower with three underground floors, offers 34,752 sqm of high spec space including a roof top garden and panoramic views. The scheme also includes 1,360 sqm of retail and 456 car parking spaces.

Valesco Group is a London headquartered European real estate investment manager.

The Ashurst team was led by partner and global head of real estate capital markets David Jones (Picture), assisted by senior associates Jonathan Spencer, Francesca Downes and Stuart Blacklock. Partner Tim Gummer advised on tax matters.

The Kinstellar team in Bratislava was led by Viliam Myšicka (Partner) and consisted of Roman Oleksik (Partner), Vladimír Policka (Managing Associate), Dominika Bajzáthová (Senior Associate), Michal Hrušovský (Senior Associate), and Dáša Labašová (Associate).

Involved fees earner: Stuart Blacklock – Ashurst; Francesca Downes – Ashurst; Tim Gummer – Ashurst; David Jones – Ashurst; Jonathan Spencer – Gunderson Dettmer; Dominika Bajzáthová – Kinstellar; Michal Hrušovský – Kinstellar; Dáša Labašová – Kinstellar; Viliam Myši?ka – Kinstellar; Roman Oleksik – Kinstellar; Vladimír Poli?ka – Kinstellar;

Law Firms: Ashurst; Gunderson Dettmer; Kinstellar;

Clients: AIP Asset Management ; Valesco Group;