Dentons advises Cornerstone Investment Management on refinancing the V Tower office building in Warsaw

Dentons has advised the joint venture between Cornerstone Investment Management and EFF on a unitranche facility provided by P Capital Partners to refinance the V Tower office building in Warsaw. The funds will provide the project with stable, five-year capital support and replace existing bank loans and a subordinated loan.

V Tower is a 22-story building located in the business center of Warsaw, offering 30,000 sqm of GLA. Cornerstone purchased the property from Globalworth in 2023 with legal support from Dentons. Over the past two years, the building has undergone a complete technical and functional transformation, refreshing its image in line with the latest market standards while retaining its existing art deco architecture and abundant greenery. The project now meets standards comparable to new office developments and now that the revitalization work is complete, the commercialization phase of the tower has begun. Preserving and renovating the building's existing structure has reduced the embodied carbon footprint by 85 percent compared to a demolition-and-new-construction scenario.

Dentons provided comprehensive support to the borrower including the preparation, negotiation and signing of finance documentation, as well as assistance with satisfaction of conditions precedent in connection with disbursement of the facilities.

Partner Tomasz Zwoliński and managing counsel Jakub Zienkiewicz led the transaction with the support of associate Jakub Olejniczak.

Gamut Analytics acted as sole debt advisor to Cornerstone Investment Management and EFF on the refinancing of V Tower.

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