Revetas Group announced the successful disposal of TriGranit to the DRFG investment group. TriGranit is one of the largest privately-owned real estate development platforms in Central Europe, with over two decades of operations and has completed nearly 50 landmark projects, adding 1.7 million sqm of GLA across seven countries in the region. DRFG has acquired 100 percent of the shares in TriGranit, which will continue to operate under its established brand, encompassing the entire development area of the group.
Commenting, Eric Assimakopoulos, Founding Partner at Revetas, said, “I am delighted that TriGranit is transitioning to an investor who truly values and recognizes the expertise and dedication of TriGranit’s entire team of professionals, which has been instrumental to our development projects over the past 5 years. Since we acquired TriGranit from TPG in 2018 together with the Keystone portfolio, we have brought new management to the group, TriGranit has completed the iconic, award-winning 37,200 sqm GLA Millennium Gardens office complex in Budapest, completed the 8th office building in the B4B mixed-use development in Krakow, repositioned over 90,000 sqm of office development land to close to 2,000 apartments, amongst other successes. We are confident that under DRFG’s umbrella, they will continue to thrive and achieve new heights.”
The two companies have an existing collaboration. Since last year, they have been jointly developing an extensive logistics park in the group’s portfolio, located in western Poland. TriGranit will implement DRFG group projects and continue previously contracted projects such as Millennium Gardens in Hungary and Bonarka for Business in Krakow, Poland. Additionally, TriGranit will continue working with the Revetas group on ongoing developments.
“We are excited about the bright future ahead for TriGranit as part of the DRFG family. Under the stewardship of Revetas Capital, we managed to weather the COVID crisis and geopolitical challenges in CEE while completing the landmark Millennium Gardens office complex in Budapest. With new ownership, we will be focusing on new development opportunities and expanding our geographic footprint,” says Tom Lisiecki, CEO of TriGranit.
