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CMS advises on acquisition of award-winning “Nowogrodzka Square” in Warsaw

23 April 2020

CMS has advised Amundia, a French property fund, on its debut investment in Poland. Amundi has acquired “Nowogrodzka Square”, a Class A office building in the heart of Warsaw which totals 11,529m2 with 147 under-ground parking spaces, from property developer Yareal.  

The office building – which was built in accordance with the strict requirements of the BREEAM sustainable construction system – has been certified “BREEAM Excellent”. On one side of the building there is an arcade which creates a green pedestrian area that is open to the general public. This connects Nowogrodzka Square with Aleje Jerozolimskie and ul. Nowogrodzka. In recognition of its contribution to the city’s development, the building recently won both the Grand Prix and Best Commercial Building award in the Architectural competition organised by the President of Warsaw.

The CMS Real Estate and Construction department worked on the transaction. The team was led by CMS partner Anna Brzoza-Ostrowska, and supported by; Justyna Bartnik, lawyer, Mateusz Wosiek, counsel and Katarzyna Szostak, senior associate. Łukasz Dynysiuk, partner, and Rafał Dostatni, associate, from the tax team advised on the transaction’s tax issues.