Madison International Realty has completed the acquisition of a controlling, 65,99% stake in Capital Park SA, a renowned Polish investment company, from Patron Capital Partners, a pan-European institutional investor focused on property-backed investments. This transaction provides Madison with a significant and strong local platform from which to expand its investment in Poland. Meanwhile, Patron Capital Partners will retain a minority stake in the group with the remaining shares held by management, leading pension funds, investment funds and retail investors. The closing of the agreement with Capital Park provides Madison with a strong strategic partner in one of the most robust markets in Europe.
Capital Park is currently progressing with the full redevelopment of the two-hectare former Norblin, Buch Brothers and T. Werner factory in Warsaw’s Wola district. A complete mixed-use district will be composed of over a dozen buildings and will accommodate over 66,000m² of usable area, including 40,000m² of office space and more than 26,000m² of space designed for leisure, services, retail and cultural facilities.
"We are pleased that the transaction between our majority shareholders was finalized. All the conditions necessary for completion have been met. We have gained a strong partner, with whom we will be able to take on new challenges and be more active in the investment market. The transaction takes place at a very favourable time for the commercial real estate market in Poland. As of today, our completed projects enjoy over 90% occupancy, and we have crossed 35% pre-lease threshold in the project of revitalization of the old Norblin factory, which was an important milestone, and we are very very enthusiastic about the future with the new strategic partner," said Marcin Juszczyk, a board member in the Capital Park Group.
Keith Breslauer, Founder and Managing Director of Patron Capital Partners, commented: “Capital Park has achieved significant growth over the last 14 years of our partnership, building a prime real estate portfolio of modern class A office and retail assets. Having achieved our investment strategy for Capital Park, we look forward to seeing its continued success with Madison International Realty. Our primary focus is on opportunistic investments in the UK and Europe, but we will always consider opportunities in the CEE and other territories where we believe we can use our experience and expertise to deliver value to our investors.”
