Greenberg Traurig has advised White Stone Development on its acquisition of a 200,000-square-meter property in Warsaw's Bielany district.
According to Greenberg Traurig, the acquired property, consisting of over 100 plots of land, will be developed with a large mixed-use project and will have a significant impact on the growth and revitalization of districts located in the northern parts of Warsaw.
White Stone is a commercial and residential real estate developer in Poland. The company's portfolio includes small residential projects, as well as large, multi-story apartment buildings, class A office complexes, and historical properties undergoing revitalization.
"This transaction shows the expected direction of the real estate market in the post-Covid reality – development of office buildings outside crowded city centers and closer to residential areas," commented Greenberg Traurig Partner, Dominik Rafalko. "The mix of different designations in the vicinity of the Mlociny metro station and the intended revitalization of the Mlociny district may make this area unique on the map of Warsaw."
The Greenberg Traurig team was led by Rafalko and included Associates Jakub Gajzler, Marta Trebacka, Maxymilian Rybczynski, and Krzysztof Poplawski.
The firm stated it was unable to disclose further information on the deal.