TriGranit’s high-quality portfolio of Central and Eastern European assets comprises a total gross leasable area (GLA) of over 173,000m², made up of Class A office buildings fully leased to a multiple of high-quality international tenants, and three Class A permitted office development projects. The total asset value, including gross development value, exceeds €450m.
Two of the Class A office development projects, B4B Building H in Krakow and Millennium Gardens in Budapest, are already under construction, while B4B Building I in Krakow and Silesia Towers 1 in Katowice are expected to be launched in the near future. These will continue to be developed by TriGranit to the highest quality office specification and in a sustainable manner, with the aim of achieving the highest possible green building certifications.
Eric Assimakopoulos, Managing Partner at Revetas, commented: “Revetas’ acquisition of TriGranit represents the opportunity to create further exceptional real estate developments in key university cities in Central and Eastern Europe, combining both Revetas’ long-standing track record in the region as a value-add investor and TriGranit’s exceptional track record as a developer. We are pleased to be partnering with a strong management team in the continuation of delivering high-quality developments into the core real estate segment, which has been the only liquid asset class throughout the region over the past cycles.”
Michael Abel, Partner at TPG Real Estate, said: “With TriGranit, we saw a unique opportunity to carve out a strategic platform, led by a strong management team, that was well-positioned to benefit from the macroeconomic performance of Central Europe. We want to thank the TriGranit team for their partnership and wish the company the best of luck in the next chapter of its journey.”