Candidate’s name
Árpád Török
Work experience in this position
Since Mr Török has been the CEO of TriGranit (2009), the company succeeded to obtain over 1 billion Euros in financing and refinancing to develop around 950,000 m² of projects completed or currently under construction. Asset disposals in Central Europe - including the purchase of TriGranit by TPG - with a cumulative transaction volume of EUR 1,2 billion, both retail and offices were completed with his active participation like Bonarka for Business office complex in Krakow or the Arena Centar in Zagreb.
Description of business activity (profile, market sectors served, etc.)
TriGranit is one of the largest fully integrated, privately owned, real estate platforms in Central Europe, focusing primarily on quality retail and Class “A” office buildings in strategic urban locations. The company is devoted to develop, acquire, and manage dominant projects that define the landmarks of the region and have a positive impact on their stakeholders. In its two decades of operation, TriGranit has developed nearly 50 landmark projects creating 1 million square meters of GLA in 7 CEE countries and has won more than 50 highly prestigious international awards.
Size of the company managed by the candidate (headcount, regions of activity)
headcount: 80 (depending on actual construction management activities, it may vary)
The y-o-y increase in profits/income generated last year
TriGranit is operating in its present structure since its acquisition by TPG Real Estate in December 2015, therefore no y-o-y numbers can be specified. Due to the successful operation since then, including 20 000 sqm GLA office development in Krakow, the ever-largest office transaction in Hungary with the sale of Millennium Towers and the largest 2016 single asset transaction in Poland by selling the Bonarka City Center, the value of TriGranit has increased alone since December 2015 with more than 25% percent.
Career path (Previous employers, professional progress, when was the candidate promoted to the current position, etc.)
Mr. Török has more than 20 years of successful, executional and managerial track record in the field of real estate leasing, development and transactions in CE, Russia and Greece. He has held different executive positions for 15 years at TriGranit, including Chief Leasing Officer of all TriGranit’s developments in CEE, and Development Director for projects in Romania. Árpád Török has been the CEO of TriGranit since 2009. He took over this position during the most demanding global economic and market conditions. His leadership helped not only TriGranit but the property business community to overcome the crisis period. Due to the restructuring the company during the crisis, TriGranit became one of the few developers in the region, which not only survived the crisis, but delivered developments yearly. His vision and professional approach has been appreciated by his peers and colleagues several times. He worked also at Cushman & Wakefield in Hungary and Greece, at the later held the position of joint managing director.
Biggest business achievements, especially those made last year
Mr Török was the initiator and a dominant player in one of the largest real estate transactions in 2015 in Central Europe - the acquisition of TriGranit by TPG Real Estate, the real estate arm of global private investment firm TPG. Mr Török coordinated the over one year transaction process that involved retail and office assets in Poland, Hungary, Slovakia and Croatia with 250 000 sqm GLA and additional development plots in a value of over 600 million euros and also restructured the company and coordinated the development of approx 70 000 sqm office space in the region.
Contributions made to the improvement of the CEE commercial property market
The acquisition of TriGranit has given a further boost to the CE real estate industry by having a deeply experienced team teaming up with the leading global private equity firm, TPG. With a planned additional capital injection into the company, the new shareholder's open aim is to realize high quality real estate projects to improve the region's commercial property market stock. The restructuring of the company during the 2008 financial crisis to adopt it to the new market conditions showed the right way to several real-estate companies.
Other industry awards and prizes
At the 2011 CIJ Real Estate Awards Hungary Gala Árpád Török was awarded with the prestigious Industry Leadership Award. In 2012 he was honoured with the order of Merit of the Republic of Hungary – Golden Cross by the President of Hungary. In 2015 he was chosen the Real-estate Market Personality of the Year by Iroda.hu, in 2016 the CEO of the Year by Finance-Monthly, and the Most Inspiring Real Estate CEO by Global Brands Magazine.
