TriGranit sells Bonarka City Center to Rockcastle – EuropaProperty

TriGranit, one of the largest, fully integrated real estate platforms in Central Europe, is pleased to confirm the completed sale of Bonarka City Center (BCC) in Krakow to Rockcastle, a property company specializing in retail centres in Central and Eastern Europe.

TriGranit, which is owned by TPG Real Estate and was the developer of the popular shopping centre, will remain as the property manager for two years. In addition to managing BCC, TriGranit will remain active in Krakow and is currently developing three office buildings in the popular ‘Bonarka for Business’ (B4B) area.

“The Bonarka project is a great real-estate project from many aspects – the shopping centre was developed in the middle of the crisis and in a highly competitive market, turning a brownfield site into a new leading city district. After seven years of innovation and active property and asset management, Bonarka is one of the best shopping centres in the region, with consistent footfall, high end tenants, and potential for further growth. We are very happy to have such a highly professional, dynamic, and innovative new owner of BCC in Rockcastle” said Árpád Török, CEO of TriGranit.
“We are very pleased by the momentum in the TriGranit portfolio since our investment a little less than one year ago. The development, management and sale of Bonarka City Center is a good example of how TriGranit has been able to create substantial value for the platform and its investors,” said Anand Tejani, Partner at TPG Real Estate.

TriGranit is proceeding with the development of the next phase of buildings in the B4B Class-A office complex in Krakow. Building F, the sixth building in the office complex in Krakow was launched this September. The eight-storey building has 10,000 sqm of gross leasable area, of which half has been leased before the official opening. Building F will host GlobalLogic and Luxoft, global providers of IT services. Building G will be ready at the beginning of 2017, and is already 100 percent leased. Due to increasing demand for new office spaces from the active BPO sector, TriGranit plans to deliver a further three office buildings in the coming years. At completion, the B4B project will consist of 10 buildings with a total area of 95,000 sqm.