The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon

Kochanski & Partners

METROPOLITAN BUILDING, PL PILSUDSKIEGO 1, 00-078 WARSAW, POLAND
Tel:
Work +48 22 326 96 00
Fax:
Fax +48 22 326 9601
Email:
Web:
www.kochanski.pl
Krakow, Warsaw

Show all Press releases

K&P has advised EPP on the acquisition of the O3 Business Campus II

July 2019

Echo Polska Properties N.V. (EPP) has acquired from Echo Investment S.A. another building of the O3 Business Campus office complex in Krakow under the right of first offer (ROFO) contract. The office building, constituting the second stage of the O3 Business Campus office was valued at EUR 49.2 million.

The second of three buildings of the office complex at ul. Opolska in Krakow, in accordance with the ROFO (Right of First Offer) Agreement made in 2016, is now the property of the subsidiary of Echo Polska Properties N.V. – Ventry Investments. EPP paid Echo Investment (or more precisely its subsidiary, i.e. Echo-Opolska Business Park) part of the sale price of EUR 43.5 million, which will be then supplemented with an additional EUR 7.3 million upon completion of the fit-out works in the building.

The O3 Business Campus investment comprises three office buildings located at ul. Opolska in Krakow. The complex attracts many shared services sector companies, with each office building offering 19 thousand sqm. lease space. The first of these was bought by EPP in December 2016, with the construction of O3 Business Campus II being subsequently completed in the third quarter of 2017. It is part of the office complex offering A class quality. Most of the space is leased by HCL Poland and HedgeServ. The third building of the complex is still under construction, with completion scheduled for the first quarter of 2018.

Echo Polska Properties N.V., as a company operating as a REIT, invests in the commercial, office and warehouse real estate sectors throughout Poland. The company is listed on the Luxembourg and Johannesburg stock exchanges, and has set itself the goal of establishing a forefront commercial entity in Poland generating significant profit for shareholders. As a consequence, Echo Polska is consistently acquiring new facilities to attract the shared services sector. Echo Investment S.A. in turn, as the largest Polish developer, regularly sells finished buildings in short intervals, in accordance with its strategy of profitable growth.

“We have now undertaken a number of transactions for Echo Polska Properties in what we believe to be a strong and trusted relationship. EPP continues to strengthen its position as a leading investor on the Polish commercial real estate market. We are proud to work closely with our Client so that they can achieve their goals ” – said Kamil Osiński, Partner at K&P, Advocate and Head of Real Estate Practice.

Kochański & Partners team was headed by Kamil Osiński (Partner, Head of Real Estate Practice) and Malwina Stajniak (Associate, Real Estate) with the participation of Marcin Rżysko (Senior Associate, Real Estate), Dr Marcin Huczkowski (Senior Associate, New Technologies & Telecommunications), Klaudia Szymańska (Senior Associate, Financial Services), Dr Agnieszka Serzysko (Senior Associate, Financial Services), Katarzyna Cybulska (Senior Associate, Infrastructure & Construction), Joanna Kośmider (Real Estate), Piotr Ząbkiewicz (Associate, Corporate / Mergers & Acquisitions), Aneta Serowik (Associate, Corporate) and Kamil Wróblewski (Junior Associate, Real Estate).

Echo Investment S.A. was represented by Weil Gotshal & Manges.

Legal Developments in Poland

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Are you up to date on important Polish labour law matters?

    As an employer it is vital that you are informed on new labour law related issues that could negatively affect your organisation. In this legal insights we explore a number of these important legal points. read more...
  • Employee monitoring in the modern business services sector

    As the modern business services market continues to experience explosive growth in Poland, it is worth keeping in mind the legal issues surrounding practices related to monitoring of employees. The line between lawful and unlawful monitoring practices is at times unclear, and issues of personal data protection also must be kept in mind.
  • Processing personal data in the BPO/SSC sector

    Personal data protection generates a large number of difficulties in the day-to-day activity of service centres. This results from the complicated processes surrounding the processing of personal data in international corporations and the unique nature of the BPO/SSC industry, but also from the restrictive requirements of Polish law regarding personal data. 
  • Common minimum wage in Germany

    New minimum wage act sets lowest hourly remuneration for workers at Euro 8.50 from 1 January 2015. This regulation will have crucial impact on undertakings from other countries providing their services in Germany. Foreign employers will have to comply with the new law and pay their employees staying in Germany at least Euro 8.50 per hour. 
  • The costs of Commercial Property Lease - Polish Law vs. Market Practice

    The practice of entering into double net or triple net lease agreements has become fairly common in the modern commercial property market in Poland. This means that a significant majority of the costs of the upkeep of the leased property are shifted to the tenant.
  • Revolution in liability towards companies under the statutory warranty

    New rules of statutory warranty bring longer deadlines and significantly alter the buyer's rights.
  • Energy Law - proposed amendments to regulations on renewable energy sources

    We are pleased to send you brief description of the main points of the bill of the Renewable Energy Sources (RES) Act, published by the Ministry of the Economy in December, 2011, and its comparison with the current RES support system.
  • Poland Arbitration 2011

    One issue under discussion is whether Poland should become a party to the Washington (ISCID) Convention. Because Poland is a party to more than 60 bilateral investment treaties (BITs) and has recently been a party to several high-profile investment arbitration proceedings, becoming a party to the ISCID Convention is discussed among practitioners, but faces strong opposition on the government side. Apart from that, another issue is whether Poland should continue to maintain BITs at all with other countries within the EU.
  • Wind energy in Poland

    The investment climate in Poland in 2009 was favourable, particularly in comparison to other European countries. Not only did the economy not give in to the crisis but it also developed at the highest pace in Europe, and Polish enterprises were able to improve the effectiveness of their business operations. The favourable investment prospects are confirmed by the fact that Poland was among the world’s top 12 most attractive direct foreign investment destinations according to the UNCTAD ranking.
  • Report on the scale of customs seizures of goods suspected of infringing intellectual property right

    Statistics in recent years show a constant increase in customs seizures of counterfeit goods. Goods seized these days by the customs authorities are not only those that are usually associated with counterfeiting, such as cosmetics, clothing and CDs/DVDs, but they also include items such as medicinal products, foodstuffs and toys. Attempts to import counterfeit goods of this type can lead to serious risks to the life and health of consumers.