Mackrell International Member Firm KWKR in Poland advises Van der Vorm Polska in acquiring 291 residential units in Krakow from "Catella Realestate"
Less than 2 months ago, "Van der Vorm Vastgoed" successfully closed negotiations for a major development investment in Krakow. However, the Dutch investment fund does not intend to rest on its laurels! In November it acquired a complex of 291 residential units in the city - a record acquisition in terms of their number. The "TRIOKraków" project has expanded the "Van der Vorm Vastoged" portfolio, which now already includes almost 800 residential units. Throughout the acquisition process, the Dutch giant was supported and mentored by KWKR law firm - a trusted, long-standing partner.
Tenants' comfort a priority for both sides of the transaction
"TRIOKraków" is a modern complex of 3 residential buildings located in the heart of Krakow. The project is located on Rakowicka Street in an extremely attractive location. Apartments and student dormitories are perfectly connected, which significantly increases the comfort of future tenants who do not have their own car. At a distance of only 500 meters there is a railroad station Krakow Glowny; in turn, future tenants will be separated from the center of the Old Town by a mere 10-minute walk through the charming streets of the royal city. In turn, for owners of 4 wheels, the developer has provided 155 parking spaces.
"TRIOKraków" was acquired from "Catella Real Estate AG". The project itself, as well as its furnishings, underscore the commitment of both parties to the transaction to guarantee the highest possible quality for future tenants. The complex has 152 apartments for long-term rent and 139 units in a private student house. Most of the apartments in the "TRIOKraków" complex have been fully equipped and furnished. However, to meet the expectations of customers, some apartments remained unfurnished, so that future residents can arrange the space according to their own preferences.
During the acquisition and due diligence process, the "Van der Vorm Vastgoed" fund was advised by several companies: long-time trusted partner Konieczny Wierzbicki law firm took care of legal and tax advice, while "CBRE" and "Arcadis" were responsible for commercial and technical advice, respectively. In turn, the international law firm "Clifford Chance" advised the fund "Catella European Residential Investment Management", a subsidiary of the "Catella AB" group engaged in residential real estate activities.
The total value of the record acquisition is estimated at 60 million euros. The transaction, on which we had the pleasure of advising, is in line with the values of the fund, which seeks to continually expand its portfolio in Poland with high-quality properties. As of 2019, the Dutch giant's portfolio includes nearly 800 residential units, located in our country's largest cities.