Poland: Schoenherr advises insurer VIG on Atrium Tower acquisition in Warsaw
Schoenherr's real estate team in Warsaw advised VIG Fund, a real estate investment company of Vienna Insurance Group ("VIG") on the acquisition of the Atrium Tower office building in the central business district of the Polish capital. Built in 1997 as one of the first modern office projects, Atrium Tower is a highlight construction in Warsaw's business district.
VIG, one of the largest listed international insurance groups in Central and Eastern Europe, acquired the Atrium Tower from investment fund AEW Europe.
"When advising VIG on this acquisition, we brought our strong real estate and transaction law expertise to the table," said Schoenherr real estate partner Agata Demuth. "Owing to its central location and prominence on Warsaw's skyline, Atrium Tower is an appealing destination for investors and tenants alike. We were thrilled to lend our support to ensure that this prestigious acquisition was accomplished successfully," concluded Demuth, who leads Schoenherr's real estate practice group in Warsaw.
The Schoenherr Warsaw team was led by Agata Demuth and further consisted of real estate attorneys Konrad Bisiorek and Jan Bagatela. The same team advised VIG in 2014 on the insurer's first direct real estate acquisitions on the Polish market, involving premier commercial properties Jasna 26 and Libra Business Centre I in Warsaw.
The Atrium Tower office building was developed by Swedish construction company Skanska in the late 1990s. The building's enduring appeal is owed to its location in the central business district, access to public transportation, modern facilities, and surrounding amenities. The office tower offers approx. 11.500m2 of A-class office and commercial space, as well as an underground parking area.