Real property

The real property department team operating within Deloitte Legal Pasternak i Wspólnicy possesses many years of vast experience in supporting domestic and international real property transactions.

Our knowledge has been gained during our work for foreign and Polish investment funds, banks, financial institutions, property companies, construction companies, logistic and office park operators, shopping mall owners, network lessees as well government and local government administrations.

Our experience and insights into the local real property market are also derived from contacts and cooperation with leading international real property agencies, architectural offices, technical consulting companies, building surveyors and research units working in the field of construction.

In response to our Clients’ expectations and needs Deloitte Legal offers comprehensive legal services related to real property transactions. Relying on our experience, we are able to create a significant added value.

Our services include:

Pre-transaction stage

Negotiations and establishing the wording of Termsheets, Letters of Intent and Heads of Terms related to direct or indirect acquisitions of various types of real property – share acquisitions or acquisitions linked with tenancy and lease contracts.

Due diligence advisory

Prior to the transaction we conduct a due diligence review in respect of undeveloped or developed real property (with shopping centres, office buildings, logistic parks erected on them), or a due diligence review of companies that have the legal title to such real property. The level of detail and exact scope of that examination is agreed on with the client in order to be aligned with the scale of the transaction and the specific needs of the company. As a result, we identify the legal risks attendant upon the deal as well as other legal issues that may prove significant. Furthermore, our deliverables may also include recommendations on how to mitigate the risks detected during our analysis.
We carry out Vendor’s due diligence aimed at identifying potential risks associated with the sales process as well as the matters that will require special attention during negotiations with the buyer.
In addition, we also provide comprehensive due diligence services to banks that finance real property acquisitions or construction works.

Transaction structure

Relying on the information derived based on our due diligence review and taking into account the expectations of the Client, we develop the transaction schedule and structure. If the transaction financing depends on the structure and due diligence results, we also support our Client as regards securing funds for the transaction, especially by participating in negotiations with financial institutions.

Real estate acquisition

We provide our advice in respect of both single real property acquisitions and portfolios of real property projects by entering into preliminary contracts, conditional contracts, contracts that transfer the legal right to real property or shares in companies that are owners or perpetual usufructors of real property. If real property is sold through a tender, we represent clients in public procurement procedures organised by government and local government authorities or organisation units.

Commercialisation of shopping centres, logistic and office space

Preparation and participation in negotiations of lease contracts both on the side of lessors and lessees of space in shopping centres, office buildings and logistic parks; verification of lease contracts from the perspective of the requirements set by banks and financial institutions;

Planning and construction-related procedures

We represent our clients during administrative procedures linked with determining the study and local plans for real property, obtaining decisions on conditions of development, building permits and other decisions necessary in the investment process.

Contracts to carry out architectural and building projects

Negotiations and drafting contracts for architectural services with a special focus on the copyrights issues, terms of payment and liability for defects;

General contractor agreements

We have broad experience in negotiating agreements with both Polish and international contractors based on FIDIC standards and other contractual models.

Real property leasing – sale and leaseback

We represent our clients in negotiations with financial institutions and funds engaged in real property leasing.

Creating real property funds and shaping their structure

In cooperation with the international network of Deloitte tax advisory offices, our law firm takes part in creating structures that facilitate tax optimisation and are adjusted to our clients’ business profiles.

Real property and asset management

We provide advisory services in preparing contracts for managing commercial real property portfolios (shopping centres, office and logistic parks).

Litigation

We offer comprehensive advisory services in the scope of disputes related to acquisition, sale, construction and use of real property, before common courts, and before domestic and international arbitration courts.

If you decide to use our services, you can expect:

• Comprehensive legal analysis of the real estate or companies that will potentially form the object of the purchase transaction;
• Identification of legal risks;
• Legal security of the transaction;
• Multidisciplinary approach to real estate portfolio acquisition transactions, including if required, advisory services in respect of foreign laws.

Why are we different?

• We have comprehensive knowledge and expertise;
• We provide top quality services tailored to individual Client’s needs;
• We are genuinely open to the expectations of our Clients;
• We give commitment to our work;
• We ensure availability of assistance of foreign legal offices associated with Deloitte.