DWF's comprehensive legal advice to Zeitgeist Asset Management covered all stages of the transaction and project implementation related to the development of a residential and student housing project located on Racławicka Street in Kraków.
The project consists of two BREEAM-certified buildings – a residential building with 182 fully furnished rental apartments (approx. 6,222 sq. m.) and a student housing building offering 289 beds (approx. 4,700 sq. m.). Following completion, the complex has recently obtained its occupancy permit and has been handed over to ZEITRAUM Hospitality & Living, a subsidiary of Zeitgeist Asset Management, which will operate both parts of the facility.
The scope of DWF’s assistance included due diligence of the plots, legal structuring, negotiation of transaction documents (including a set of security instruments), as well as execution of the transaction, which was structured as a forward purchase with forward funding.
The project was led by Joanna Wojnarowska and Weronika Roesler supported by a team of DWF lawyers.
This is another project completed by Zeitgeist Asset Management in the PBSA sector, alongside ZEITRAUM Koszykarska in Kraków and ZEITRAUM Solec in Warsaw. Within the PRS sector, their Polish portfolio also includes HOME by Zeitgeist – Barbary in Warsaw, HOME by Zeitgeist – Górskiego in Gdańsk and HOME by Zeitgeist – Wrzesińska in Warsaw.
We were delighted to provide legal advice throughout these projects' life cycles. We would like to thank Zeitgeist Asset Management and ZEITRAUM Hospitality & Living for their trust in us and for their excellent cooperation.
