Greenberg Traurig’s international real estate group has advised US-based private equity investor Amstar in its first joint venture in Poland.
Amstar entered into the venture with Polish development company BBI Development SA to purchase the iconic luxury residential tower designed by architect Daniel Libeskind located in the city centre of Warsaw.
Eric Rosedale, the new head of international real estate for Greenberg Traurig, says: “The venture work demonstrated Greenberg Traurig’s cross-border real estate capabilities and the strength of its real estate practice in Central and Eastern Europe.”
Jason Lucas, president of Amstar Global Advisers, says: “Amstar is expanding its Emerging European investments westward from Russia and Turkey into Poland in order to capture opportunities in one of Europe’s most vibrant real estate markets. The off-market acquisition of Zlota 44 was the ideal opportunity to acquire a high-quality project at a significant discount to replacement cost.”