Schoenherr advised VIG Fund, a company of Vienna Insurance Group on its recent purchases of two top-tier commercial properties in Warsaw. The transactions, which involve a total of over 21,000 sq.m. of office and were completed in October and November 2014, respectively, represent VIG’s first direct acquisitions of real estate in the Polish market.

A Schoenherr Poland team led by real estate partner Agata Demuth and further consisting of attorneys Konrad Bisiorek and Jan Bagatela advised VIG Fund on its purchase of “Jasna 26”, an approx. 5,700 sq.m. large office and commercial building located in Warsaw’s historical centre.

The same Schoenherr team also provided comprehensive legal advice to VIG Fund on the insurance group’s subsequent acquisition of the “Libra Business Centre I” office building, which offers ca. 16,000 sq.m. of top-tier office and commercial space and underground parking in one of the Polish capital’s leading office districts.

The seller in both transactions was Warsaw-based developer Mermaid Properties, which received advice from the local office of the law firm Magnusson.

VIG Fund is a company of Vienna Insurance Group (VIG), one of the leading insurance groups in Austria as well as in Central and Eastern Europe. Listed on both Vienna and Prague Stock Exchanges, VIG is represented by approximately 50 companies in 25 countries.