Purchase and sale of post-industrial land

The provision of support for the process of purchase, preparation for sale and subsequent sale of land of the former clothing factory Modena S.A. in Poznań, located in the city centre, in the historic Jeżyce district. The project began with the acquisition of ownership of real properties included in the "Modena" complex, belonging to various SPVs. The ownership was partially transferred in exchange for the claim secured by a mortgage. During the implementation of this phase of the project, it also became necessary to effect a full takeover and squeeze out almost 2,000 shareholders of Modena S.A. in order to mitigate potential risks and provide the Client with actual control over the real estate included in the project. Next, the Client held an open workshop attended by representatives of the City of Poznań, architects and Jeżyce district residents. Based on the workshop, a concept for the area development was created and it formed the basis for obtaining a decision on land development conditions (WZZiT), giving permission to construct the Modena Park office, commercial and residential complex. The concept serving as basis for the WZZiT decision was created with due respect for the historic environment and unique greenery that can be found in the Modena Park area. After this stage of the real estate development process had been completed, all the properties included in the "Modena" complex, together with the WZZiT decision, were transferred to an SPV and the project itself was sold. The total value of the transaction amounted to PLN 65 million. Our lawyers provided support to the Client at every state of the project implementation.