TPG Real Estate completes the acquisition of TriGranit
TPG Real Estate, the real estate arm of global private investment firm TPG, announced today that it has closed its acquisition of TriGranit, one of the largest fully integrated, real estate platforms in Central Europe. As part of the transaction, TPG acquired a portfolio of office and retail assets predominantly located in Poland, with select exposure to other key Central European locations. 2015-12-04 11:02:37
TriGranit, with operational and capital support from TPG Real Estate, will build on its leading Central European real estate platform, focused on office and retail projects. The company, with offices in Budapest, Warsaw, Krakow and Bratislava will pursue a full spectrum of real estate activities including acquisitions, development, construction, and property and asset management. The senior management team will remain with the company after the transaction.
"The new TriGranit will manage a much wider scope of activities than before. As an integrated real estate platform, we will not only focus on development and management of retail and office projects, but also acquisitions of high quality assets. Poland and the capital cities in Central Europe remain our main area of focus. We see enormous potential in the countries in this region due to their favourable macro environment and real estate trends," said ArpAd Torok, CEO of TriGranit.
"This transaction represents the culmination of over a year of work to acquire a high quality platform and real estate via a corporate carve-out. We look forward to working with this experienced management team to achieve TriGranit's next successful chapter of growth," said Anand Tejani, Partner of TPG Real Estate. Michael Abel, Principal of TPG Real Estate added, "Following a long history of successful real estate development, investment and management, TriGranit presents a unique opportunity to continue the growth of a leading, fully integrated real estate platform."
TriGranit is one of the largest fully integrated, privately owned, real estate platforms in Central Europe, focusing primarily on quality retail and Class "A" office buildings in strategic urban locations. TriGranit conducts a full spectrum of real estate activities including acquisition, development, construction, and as property and asset management. In its two decades of operation, TriGranit has developed nearly 50 landmark projects creating 1 million square meters of GLA in 7 CEE countries and has won more than 40 highly prestigious international awards.
TPG Real Estate is the real estate platform of TPG, a leading global private investment firm with approximately 75 billion USD of assets under management and 17 offices around the world. TPGRE includes both TPG Real Estate Partners, its equity investment platform, and TPG Real Estate Finance Trust, its debt origination and acquisition platform. Collectively, the two platforms have in excess of $7 billion of assets under management across TPGRE and other TPG-sponsored vehicles. TPG Real Estate Partners has invested approximately 3 billion USD of equity in North America and Europe since 2009 and focuses primarily on investments in property-rich platforms and companies. TPG Real Estate Partners leverages the full resources of TPG in its value-added approach to investing to optimize property performance and enhance platform capabilities. TPG Real Estate Finance Trust manages a 2.5 billion USD commercial real estate loan portfolio and originates and acquires senior and mezzanine real estate loans across a broad spectrum of asset classes in North America.
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