Partners Group – a global private markets investment manager – will pay c.€200 million for selected real estate assets of the Krakow-based BUMA Group on behalf of its clients. Funds managed and/or advised by Partners Group will acquire nine newly built, largely occupied office buildings from BUMA’s portfolio and two assets under construction with a total leasable area (GLA) of about 125,000 sqm. REINO Partners, part of the REINO Capital holding company listed on WSE, will partner with Partners Group to manage the portfolio post-closing.
The portfolio is comprised of 11 class-A office properties (including two under construction) located in Kraków and Wrocław. The leasable area (GLA) of the standing assets is around 100,000 sqm, while those under construction amount to 25,000 sqm GLA. Following today’s conditional signing, closing is expected over the next weeks.
“The acquisition of the BUMA portfolio is aligned with our strategy of acquiring cash-flowing assets, let to good-quality tenants in geographies with strong economic fundamentals. We look forward to implementing our value creation strategy across the portfolio with our local operating partner REINO Capital and in close cooperation with existing as well as prospective tenants. We have conviction towards the Polish residential, office and logistics markets and we plan to further build-up our presence in this region, targeting cash-flowing portfolios with short to medium term value-add potential,” said Marco Denari, Member of Management, Private Real Estate Europe, Partners Group.
“Many years of experience and strong local competences make us a first-choice partner for global investors who want to invest capital in Polish real estate. We are pleased that Partners Group’s funds will entrust us with the joint asset management of this Polish portfolio post-closing, worth over €200 million,” said Radosław Świątkowski, CEO of REINO Capital said.
The main transaction advisor to the buyers in the process of taking over the BUMA Group’s assets is Greenberg Traurig; While Deloitte has been entrusted with financial and tax consultancy, with Goodwin Procter (UK) LLP providing legal advice on the proposed asset management partnership between Partners Group and REINO Partners. The sellers are advised by Clifford Chance, Ipopema and Ernst & Young.
