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First Property Group purchases shares in Blue Tower.

Blue Tower
Blue Tower
First Property Group increases its shares in Warsaw's Blue Tower.

A British financial group of real estate management has purchased 19,7 percent of shares in Blue Tower from PKO Bank Polski SA and 22,3 percent of shares in the company managing the project - CORP SA. Thanks to that, the group has 48,2 percent of shares in the skyscraper and 90 percent in CORP SA. During the bid, the company was advised by BWW Law & Tax legal office.

 

The purchase of shares allows the First Property Group taking of complete control over the functions of management of the asset and is a major step towards seizing complete control over the Blue Tower. According to the evaluation of the financial cadre of the company, as a result of transaction, the average gross growth rate from the First Property Group shares in the skyscraper will reach about 38 percent a year.

 

This is yet another project in which BWW Law & Tax advised the British company. The legal office also helps the company in everyday management, counseling in corporate matters, negotiating and signing of the rent deals, current relations with the leaseholders as well as financing and re-financing of the real estates.

 

Blue Tower Plaza, called also an Azure Skyscraper, is located by Plac Bankowy in Warsaw. The building has been put into operation in 1991.


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