The Brama Portowa office complex in Szczecin has a new owner. It is the FLE SICAV FIS fund. Tax advisory for the buyer and due diligence for this transaction was handled by a team of experts from TPA Poland.
“This wasn’t the first time we have collaborated with FLE Gmbh. We have already worked together on the projects in Wrocław and Kraków. For instance we advised on the simultaneous acquisition of 11 land properties in Poland, Hungary and the Czech Republic. The trust placed in us by the fund confirms our stable position at the forefront of advisory services in the real estate sector,” said Monika Stachurska-Waga, Senior Manager at tax advisory department, TPA Poland.
Małgorzata Dankowska, Partner in charge of the real estate team and Warsaw tax practice at TPA Poland, adds that despite pandemic restrictions, the transaction went effectively and smoothly.
“Practically no transaction is complete without detailed due diligence. Therefore it allows to develop a negotiation strategy or to plan the timing of the entire transaction. Moreover, it enables to identify and evaluate the risks associated with the project. Also it enables to determine the specifics of the operation of the subject of the transaction. In the current phase of the Covid-19 pandemic it is still a complex task. We are glad that the processes we have developed and the tools we use make it possible to provide effective remote advisory services,” pointed out Małgorzata Dankowska.
About the transaction
Brama Portowa office complex in the very centre of Szczecin comprises 13,000 sqm of office and retail space. The property consists of two buildings. The first one has 6 floors and the second is 7 storey tall. Space at the bottom, amounting to almost 2,000 sqm, is intended for retail and services. Remaining floors are designed for offices. The buildings also include underground garages with 58 parking spaces and bicycle parking spaces. The convenient location of the property provides easy access by public transport. It also ensures a wide range of services and additional parking spaces in the vicinity of the buildings.
The fund has a clear strategy for expanding its property portfolio. It already has several in Poland, located both in Warsaw and other important regional cities. FLE Gmbh’s investments focus on completed properties in attractive locations with a good rental history. Importantly, FLE Gmbh is committed to the professional and long-term management of the properties it acquires.