Dentons advises TPG Real Estate on €500 million acquisition of TriGranit’s platform in CEE – EuropaProperty

Dentons’ real estate team has advised TPG Real Estate, the real estate platform of global private investment firm TPG, on the acquisition of TriGranit, one of Europe’s largest, privately owned developers and managers of retail and office assets. As part of the transaction, TPG Real Estate acquired nearly 30 vehicles in four countries, including TriGranit’s entire portfolios in Poland, Slovakia and Croatia, as well as selected assets in Hungary.

Elżbieta Lis, Dentons’ Warsaw real estate partner, led a cross-border team of lawyers and was responsible for the general coordination of all Dentons and Croatian legal teams involved in the project. Paweł Dębowski, Chairman of the European Real Estate Group, oversaw the transaction.

“This formidable transaction required a particular skill set on Dentons’ side, and is one of the largest platform transactions in Europe in the year-to-date,” said Elżbieta Lis.

Paweł Dębowski remarked: “The European commercial real estate market continues on its upward trajectory. Given the fantastic transaction volume in 2014, with industrials being the best-performing sector in a number of countries, investor appetite for multi-country mega-investments across various industries is looking promising.”

TriGranit is one of the largest fully integrated, privately owned regional real estate investment, development and management companies in Central Europe. The company’s primary focus is on mixed-use “City Center” projects and office and retail developments in strategic urban locations.

TPG Real Estate has invested approximately $3 billion of equity in North America and Europe since 2009 and focuses primarily on investments in property-rich platforms and companies. TPG Real Estate leverages the full resources of TPG in its value-added approach to investing to optimize property performance and enhance platform capabilities.
The transaction is expected to close in 2015.