Linklaters has acted for one of W. P. Carey's managed non-traded REITs on the EUR 9.7 million sale-leaseback of an office/R&D facility with Nokia Solutions and Networks. The transaction represents W. P. Carey's second deal in Poland this year following back in March, when the company had completed the acquisition of Lipowy Office Park, which serves as Bank Pekao’s headquarters, in Warsaw.

Linklaters Warsaw has been involved in and advised on all aspects of the transaction, from the due diligence, through drafting and negotiating the transaction documents, up to the successful signing and closing.

Janusz Dzianachowski, managing associate, and Michal Matera, senior associate within the Warsaw real estate practice ran the process on the firm’s end in a close co-operation with Reed Smith LLP, W. P. Carey’s US counsel.

The 5,508 square metres facility currently employs approximately 300 staff, which work within Nokia’s network and telecom infrastructure division.