Feb42026
MDDP advised on the acquisition of the iconic Senator office building and PZO complex in Warsaw

MDDP advised on the acquisition of the iconic Senator office building and PZO complex in Warsaw

MDDP provided tax support on two significant transactions in Warsaw’s office market: the acquisition of the Senator office building in the city centre and the PZO complex in Praga. In the acquisition of PZO, MDDP also provided financial advisory services.

The end of 2025 saw both acquisitions close around the same time, underscoring sustained investor activity in Warsaw’s office sector – along with a clear focus on assets in strong locations and of high quality.

In the case of Senator, the property was acquired from Union Investment Real Estate by Cornerstone Investment Management in cooperation with Fidera Group. The building is located on Bielańska Street, close to the Old Town and in the immediate vicinity of the Grand Theatre – Polish National Opera – one of the most prestigious parts of Śródmieście. It is a Class A office building that combines the historic character of the area with modern technical solutions, offering approx. 22,000-25,000 sq m of office space.

The second transaction involved the acquisition of the PZO complex in Praga, Warsaw, also carried out by Cornerstone and Fidera, this time together with White Star. The project was developed on the site of the former Polish Optical Works.It comprises two buildings, one of which has a total floor area of 14,651 m² and is fully leased by the Public Transport Authority (ZTM). The commercial component covers approximately 12,5 m² of GLA, including over 10,600 m² of office space. The second building is an office and service facility with a usable area of 9,5 m².

Scope of MDDP’s support

Comprehensive tax advisory services for Cornerstone Investment Management in connection with both transactions and financial advisory services regarding PZO were provided by the MDDP team comprising Łukasz Kupień, Marcin Socha, Bartosz Bogdański, Katarzyna Trzaska-Matusiak, Łukasz Zabłocki, Konrad Matuszewski and Michał Więcek.

The scope of the advisory services included, in particular:

  • conducting tax due diligence and (for PZO only) financial due diligence
  • participation in the negotiation process and support in the preparation and execution of transactional agreements,
  • conducting the procedure for obtaining individual tax rulings confirming the correctness of the tax treatment of the transactions,
  • ongoing, comprehensive tax advisory support up to the closing of the transactions, covering numerous tax aspects related to the implementation of the project,
  • structuring advisory.

Cornerstone Investment Management is a private equity firm founded in 2001 by Przemysław Krych, specialising in equity investments in companies and assets of a complex nature with a long-term investment horizon. The firm pursues strategies across corporate private equity, private debt and private equity real estate, and is actively involved in the development of its projects as well as in close cooperation with management teams and investment partners.

MDDP transaction advisory in the real estate sector

MDDP supports real estate market participants throughout the investment lifecycle – from analyses and transaction preparation, through tax matters accompanying the process, to activities related to settlements and tax security.

MDDP provides comprehensive tax and transaction advisory services, including in particular:

  • due diligence analyses (tax, financial, legal),
  • transaction structuring with VAT and PCC considerations,
  • drafting and review of transaction documentation,
  • participation in negotiations,
  • review of lease, service and cost agreements,
  • withholding tax settlements and refund procedures.