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. Along with the platform, TPG acquired a portfolio of office and retail assets located in Poland (B4B, Bonarka shopping centre), Hungary (Millennium City Center 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 as part of the transaction.
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 Markets 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”.
According to JLL the total CEE transaction volume is expected at a level of €8bn for 2015, the highest level since the economic downturn and third highest in the past 12 years.