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EMEA, Warsaw, Bratislava, Budapest, 15 December, 2015 – TPG Real Estate, the real estate arm of global private investment firm TPG, has closed its acquisition of TriGranit, one of the major fully integrated, real estate platforms in Central Europe. As part of the transaction, TPG acquired the platform along with a portfolio of office and retail assets located in Poland (Bonarka Shopping Centre, B4B), Hungary (Millennium City Centre Offices) and Slovakia (Lakeside Park office building, Metropolis – 47.5 ha of land near Bratislava) with additional development sites in the same countries and Croatia.
JLL advised TPG in the transaction.
Benjamin Perez-Ellischewitz, Head of Capital Markets, JLL Hungary commented: “This transaction is a landmark platform deal for the CEE region and our role illustrates the capacity of the JLL CEE Capital Market advisory team to advise on multi-country and multi-asset classes deals. Investor appetite for portfolios and platform deals is strong and we expect more of the like in the coming months.”
Agnieszka Kołat, National Director, Retail Investment CEE commented: “Bonarka City Center is yet another truly prime shopping centre transacted this year. With around € 1.725 billion of retail deals already closed, 2015 will end as the second best year ever for retail in Poland, behind 2006.”
Rafał Kosoń, Associate Director, Office Investment Poland added: “For the first time the yearly volume of office transactions in Polish regional cities exceeded the volume registered in Warsaw (ca. 60 / 40 % of volume recorded in regional cities versus Warsaw, respectively). This proves the increased liquidity and strong investor interest in assets located outside the capital city.”
Miroslav Barnáš, Managing Director and Head of Capital Markets at JLL Slovakia, says: “We were delighted to play instrumental role in this cross border transaction. It again underlines increasing investment activity across all sectors including M&A and underpins continuous positive interest in the Slovak real estate market.”
According to JLL the total CEE transaction volume is expected at a level of EUR 8 bn for 2015, the highest level since the economic downturn and third highest in the past 12 years.
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316.0 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
In Russia and CIS JLL has offices in Moscow, St. Petersburg and Kiev. JLL, Russia & CIS was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014 and 2015 at the Commercial Real Estate Awards, Moscow; Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg; Consultant of the Year at the RCSC Awards in 2015, and The Best Real Estate Consultancy in Ukraine at the Ukrainian Property Awards in 2013.
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