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Ma艂gorzata Dankowska Partner, Tax Advisory TPA Poland E-mail
Maciej Krokosi艅ski Partner, Audit & Business Advisory Baker Tilly TPA E-mail
Patrycja Jefimiuk Senior Manager, Tax Advisory TPA Poland E-mail

Activity in the Balice real estate market. TPA Poland and Baker Tilly TPA experts provided support in the acquisition of an R&D center.

Czech fund REICO 膶S LONG LEASE has bought BWI Group’s research and development center in Balice. The transaction value was over EUR 27 million. The investor chose the team of tax experts from TPA Poland and financial experts from Baker Tilly TPA as the advisor.

The developer 7R and the American investment company InSite Real Estate have decided to sell the asset in Balice. The buyer was REICO 膶S LONG LEASE, one of the Czech investment funds, managed by REICO investi膷n铆 spole膷nost 膶esk茅 spo艡itelny, a.s.

鈥淭his is not the first time we have cooperated with REICO. We have had the pleasure of doing other real estate projects together. We are pleased that once again we could advise on such an important transaction,鈥 said Ma艂gorzata Dankowska, tax advisor, Partner at TPA Poland in charge of the real estate team and Warsaw tax practice at TPA Poland

In this transaction, TPA Poland advisors conducted tax and financial due diligence. This made it possible to accurately evaluate the investment, and to plan accordingly.

鈥淭hanks to the recommendations presented by our experts, the investor could rationally assess the potential of the asset, and thanks to a comprehensive analysis of the transaction consequences, the fund had a solid basis for making the right decision and the transaction was successful,鈥 added Patrycja Jefimiuk, tax advisor, Senior Manager, Tax Advisory, TPA Poland.

The investor, i.e. the REICO fund, is a Czech company and its activities include managing open-ended real estate funds. REICO manages a fund that has in its portfolio several special purpose vehicles (SPVs) owning properties located in the Czech Republic and Slovakia. REICO is controlled by Erste Group Bank AG, which, together with its subsidiaries, provides a variety of banking and other financial services to retail and institutional customers, primarily in Central and Eastern Europe.

Despite the effects of the pandemic still being felt, recent times have been full of real estate transactions with record-breaking values. In addition, investors are already allocating their capital not only in office buildings, but largely also in industrial and warehouse space.

鈥淥ur clients look to us for comprehensive advice 鈥 from tax issues to financial and legal aspects that will safeguard their profits in the long run. Baker Tilly TPA and TPA Poland offer such services based on long-standing and international experience. We congratulate REICO fund on another successful transaction on the Polish market and thank our advisors and experts for their commitment. We look forward to more projects together,鈥 said Maciej Krokosi艅ski, Partner at Baker Tilly TPA, responsible for providing comprehensive financial buyer advisory.

BWI Group’s research and development center was developed by 7R in Balice. It has 11,000 sqm of laboratory and office space and is BREEAM certified at Very Good level. It consists of two environmentally friendly interconnected buildings, delivered in 2020. The building is practically self-sufficient in terms of energy, has its own well and rationally manages water across the entire plot. It has received an award in the Prime Property Prize competition in the Green Building category.

BWI Group, a global company that designs and manufactures suspension components for the automotive industry, is the exclusive tenant of the facility.

The center boasts a great location. It is situated near the Balice airport and close to the A4 highway. It is about 20 km away from Krakow.