Taylor Wessing and Clifford Chance Advise on PHN Property Management Loan Agreement with Bank Pekao

Taylor Wessing and Clifford Chance Advise on PHN Property Management Loan Agreement with Bank Pekao

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Taylor Wessing has advised PHN Property Management on a seven-year loan agreement with Bank Pekao to refinance the acquisition of the Regent Warsaw Hotel. Clifford Chance advised Bank Pekao.

According to Taylor Wessing, the Regent Warsaw Hotel was "acquired in February 2021 from a bankruptcy trustee for the amount of PLN 130.5 million." The hotel, formerly operating under the Hyatt brand, is located in Warsaw's center, in the vicinity of the Royal Lazienki palace and garden complex.

PHN Property Management is a subsidiary of Polski Holding Nieruchomosci and Polski Holding Hotelowy. The Polski Holding Nieruchomosci Group is a Polish investor and a property manager in the commercial real estate market. Its portfolio includes approximately 154 properties and 600 hectares of land in the country. Polski Holding Hotelowy is a State Treasury company aiming to consolidate and manage properties providing hotel services owned by the State Treasury. PHH's portfolio includes a total of 27 hotels and properties.

"Concluding a loan agreement with Bank Pekao will allow us to lower the costs of financing this undertaking," Polski Holding Nieruchomosci Management Board President Marcin Mazurek commented. "It also shows the investment potential of this project and the stable financial situation of the whole PHN Group, as despite the difficult situation on the domestic hotel market we managed to obtain financing from a renowned financial institution."

The Taylor Wessing team was led by Partners Grazyna Kuzma and Jakub Pitera and included Partner Andrzej Mikosz, Senior Associate Marta Janowska, and Associates Patrycja Sojka and Marcin Skiba.

The Clifford Chance team was led by Partner Andrzej Stosio and included Senior Associates Maksymilian Jarzabek and Anna Miernik, Associate Dominika Wroblewska, and Junior Associate Bartosz Zielinski.