DELTA legal advises INVESTIKA real estate fund on Polish market entry
DELTA legal has again provided INVESTIKA real estate fund (IRF) with legal advice and guidance. The successful IRF fund, one of the most profitable in several years on the CEE market, acquired the modern Szyperska Office Center in Poznań at the end of February, thus further diversifying its portfolio with its first foreign asset.
The team at DELTA legal composed of Pavel Fára, Libor Vacek, Veronika Chrobok and Jiří Absolon, helped prepare the Czech part of the transaction, including advice on project financing. The main challenge was the Polish cross-border component and the need to coordinate input from various involved jurisdictions to minimize risk on the client’s side, while following an ambitious transaction schedule. The building’s developer was Wechta, one of the largest property developers operating in the Greater Poland Voivodeship since 1997.
The seven-storey building from 2009 is fully leased. It offers 19,000 square metres of mainly office space, quality facilities for tenants, including parking spaces, air-conditioning and optical cabling, and above all a quiet location near the centre of Poznań, a city of more than half a million, in the countryside overlooking the Warta River. Tenants include Volkswagen, Alior Bank, the software company Mirantis and public institutions like the local labour office.
“Finding a property with an interesting yield is very difficult in today’s Czech market,” said Pavel Fára. “We are pleased that the client decided to broaden its portfolio with an interesting investment opportunity abroad in this dynamic Polish market. The building is in an attractive locality and is home to quality tenants, and the property has high business potential for many reasons. We believe that all the client’s expectations from the transaction will be fully met.”
INVESTIKA has been operating on the market since 2015. As a purely Czech investment company, in addition to the real estate fund it manages three other funds and has a total volume of managed assets worth CZK 8.47 billion. After the purchase of Szyperská Office Center, IRF continues to grow and now owns 26 diverse properties, including a lucrative development project in Lipno and a premium technological centre in Písek.