TPG Real Estate acquires TriGranit
TPG Real Estate, a global private investment firm, has closed its acquisition of TriGranit, one of the largest fully integrated, real estate platforms in Central Europe, according to an announcement issued today.
As part of the transaction, TPG acquired a portfolio of office and retail assets located primarily in Poland, with select exposure to other key Central European locations, the announcement said, adding that the senior management team will remain with the company after the transaction.
With operational and capital support from TPG Real Estate, TriGranit will build on its leading Central European real estate platform, which is focused on office and retail projects. The company, with offices in Budapest, Warsaw, Krakow and Bratislava, will pursues a full spectrum of real estate activities including acquisitions, development, construction, and property and asset management, the announcement said.
“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 favorable macro environment and real estate trends,” said Árpád Török, 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.
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