Hogan Lovells advises both BBI Development S.A. and the Archdiocese of Warsaw on the "Roma Tower" investment
The Warsaw office of Hogan Lovells advised BBI Development S.A. and the Archdiocese of Warsaw in negotiations and the conclusion of the investment agreement concerning the "Roma Tower" development project in Warsaw.
Companies from the BBI Development S.A. group, Liebrecht & WooD, and the Pro Bonum foundation which was established by the church party, concluded an investment contract for the implementation of the project on 10 November 2021.
In accordance with the terms of the agreement, the project will be carried out by a special purpose vehicle to which Liebrecht & WooD will contribute PLN 207 million, and BBI Development and the Archdiocese will provide the property on which the investment will be developed. The property value is PLN 261.2 million. The total value of funds invested by the parties amounts to almost PLN 500 million.
The Roma Tower building is a 170-metre high skyscraper that will be located in the center of Warsaw, at the intersection of Emilii Plater and Nowogrodzka Streets.
The Hogan Lovells team was led and supervised by Warsaw-based partner Andrzej Dębiec with support from Tomasz Żak (counsel, corporate and M&A), Tomasz Pietrzak (associate, corporate and M&A), Bartosz Clemenz (counsel, real estate), Ewa Kraszewska (senior associate, real estate), Zbigniew Marczyk (counsel, tax), and Piotr Skurzyński (counsel, antitrust and competition).