Ares Management and Griffin Real Estate acquire majority stake in Murapol

Griffin Real Estate, in joint venture with a fund managed by the Real Estate Group of Ares Management Corporation, acquired a 98.04% stake in Murapol SA – one of the most active residential developers in Poland, having sold nearly 3,700 apartments in 2019 and 2,140 in Q1-Q3 2020. With a highly-integrated value chain, Murapol is focused on delivering affordable units to a broad segment of the Polish residential market throughout the country’s largest cities. Murapol Group has been operating in the multi-family housing sector for 19 years, making 66 investments at that time, with nearly 300 buildings and more than 17,300 apartments inhabited by more than 52,000 people. The Company has a business model that is unique in the industry and a rich portfolio of projects under construction and under various stages of preparation. In 2019, the Murapol signed contracts for the sale of nearly 3,700 apartments. The portfolio of projects under construction within the Murapol Group as at the end of 2019 consisted of more than 6,850 apartments with a total usable area of approximately 300,000 square meters, located in 57 buildings as part of 21 investment projects all over Poland. In addition, Murapol has a rich land bank that will enable the company to deliver nearly 17, 700 new units in the future.
From January to September 2020, Murapol Group delivered a total of 2,480 flats, including 1,391 from July to September, delivering the highest number of apartments on the Polish market from all the developer companies. The results are more than 60% better than in Q1-Q3 2019. The company also expanded the land bank and explored potential of the online channel by introducing, as the first developer company in Poland, on-line reservations and meetings with customers.
Name of the deal Ares Management and Griffin Real Estate acquire majority stake in Murapol
Information about the transaction project/projects/portfolio Griffin Real Estate, in joint venture with a fund managed by the Real Estate Group of Ares Management Corporation, acquired a 98.04% stake in Murapol SA – one of the most active residential developers in Poland, having sold nearly 3,700 apartments in 2019 and 2,140 in Q1-Q3 2020. With a highly-integrated value chain, Murapol is focused on delivering affordable units to a broad segment of the Polish residential market throughout the country’s largest cities. Murapol Group has been operating in the multi-family housing sector for 19 years, making 66 investments at that time, with nearly 300 buildings and more than 17,300 apartments inhabited by more than 52,000 people. The Company has a business model that is unique in the industry and a rich portfolio of projects under construction and under various stages of preparation. In 2019, the Murapol signed contracts for the sale of nearly 3,700 apartments. The portfolio of projects under construction within the Murapol Group as at the end of 2019 consisted of more than 6,850 apartments with a total usable area of approximately 300,000 square meters, located in 57 buildings as part of 21 investment projects all over Poland. In addition, Murapol has a rich land bank that will enable the company to deliver nearly 17, 700 new units in the future.
From January to September 2020, Murapol Group delivered a total of 2,480 flats, including 1,391 from July to September, delivering the highest number of apartments on the Polish market from all the developer companies. The results are more than 60% better than in Q1-Q3 2019. The company also expanded the land bank and explored potential of the online channel by introducing, as the first developer company in Poland, on-line reservations and meetings with customers.
The date of closing the deal 14 February 2020
Value of the transaction (in EUR) +100 mln
Yield n/a
Seller, plus brief information about the company Previous owners of Murapol Group: Predicto Sp. z o.o., Estater Sp. z o.o., Michał Dziuda, Cavatina Sp. z o.o., Midvest Spółka z o.o. Sp.K.
Consultancy which advised Seller RKKW, Dentons
Purchaser, plus brief information about the company Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares Management’s global platform had $149 billion of assets under management as of December 31, 2019 and employs approximately 1,200 employees in over 20 offices in more than 10 countries.

Griffin Real Estate is the largest, privately owned most active and innovative investment and asset manager in private equity specialized in real estate in CEE, originating and introducing several new concepts and formats to the market. The Company invests and manages its investment platforms on behalf of both its owners and its renowned international investors and strategic partners. The gross asset value of Griffin-managed investments acros
Consultancy which advised Purchaser Rymarz Zdort, BCLA, Deloitte, JLL, Arcadis
Financing institution n/a
Current occupancy level n/a
Please say why this deal should be considered for the award Acquisition of 98.04% stake in Murapol by Ares Management and Griffin Real Estate was considered one of the biggest M&A transactions on the real estate market in Poland of last year. Murapol has strong core operations and significant opportunity for further growth in one of Europe’s most active residential markets. Murapol has completed investments, in which buildings with about 17,300 flats have been built, inhabited by over 52,000 people. The company is present in major locations in regions, both large cities and satellite towns. In Q1-Q3 2020 the Group entered a new city, Bydgoszcz, expanding the map of the Group's investments that currently, after the newest addition, covers 16 cities in Poland. During the first three quarters of 2020 the Murapol Group signed development and preliminary agreements for 2,140 flats, compared to 1,902 in Q1-Q3 2019. In the whole of 2019, the Group's flats were acquired by 3,674 people, compared with 3,560 a year earlier and 3,605 in 2017.
Name of the deal
Ares Management and Griffin Real Estate acquire majority stake in Murapol
Information about the transaction project/projects/portfolio
Griffin Real Estate, in joint venture with a fund managed by the Real Estate Group of Ares Management Corporation, acquired a 98.04% stake in Murapol SA – one of the most active residential developers in Poland, having sold nearly 3,700 apartments in 2019 and 2,140 in Q1-Q3 2020. With a highly-integrated value chain, Murapol is focused on delivering affordable units to a broad segment of the Polish residential market throughout the country’s largest cities. Murapol Group has been operating in the multi-family housing sector for 19 years, making 66 investments at that time, with nearly 300 buildings and more than 17,300 apartments inhabited by more than 52,000 people. The Company has a business model that is unique in the industry and a rich portfolio of projects under construction and under various stages of preparation. In 2019, the Murapol signed contracts for the sale of nearly 3,700 apartments. The portfolio of projects under construction within the Murapol Group as at the end of 2019 consisted of more than 6,850 apartments with a total usable area of approximately 300,000 square meters, located in 57 buildings as part of 21 investment projects all over Poland. In addition, Murapol has a rich land bank that will enable the company to deliver nearly 17, 700 new units in the future.
From January to September 2020, Murapol Group delivered a total of 2,480 flats, including 1,391 from July to September, delivering the highest number of apartments on the Polish market from all the developer companies. The results are more than 60% better than in Q1-Q3 2019. The company also expanded the land bank and explored potential of the online channel by introducing, as the first developer company in Poland, on-line reservations and meetings with customers.
The date of closing the deal
14 February 2020
Value of the transaction (in EUR)
+100 mln
Yield
n/a
Seller, plus brief information about the company
Previous owners of Murapol Group: Predicto Sp. z o.o., Estater Sp. z o.o., Michał Dziuda, Cavatina Sp. z o.o., Midvest Spółka z o.o. Sp.K.
Consultancy which advised Seller
RKKW, Dentons
Purchaser, plus brief information about the company
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares Management’s global platform had $149 billion of assets under management as of December 31, 2019 and employs approximately 1,200 employees in over 20 offices in more than 10 countries.

Griffin Real Estate is the largest, privately owned most active and innovative investment and asset manager in private equity specialized in real estate in CEE, originating and introducing several new concepts and formats to the market. The Company invests and manages its investment platforms on behalf of both its owners and its renowned international investors and strategic partners. The gross asset value of Griffin-managed investments acros
Consultancy which advised Purchaser
Rymarz Zdort, BCLA, Deloitte, JLL, Arcadis
Financing institution
n/a
Current occupancy level
n/a
Please say why this deal should be considered for the award
Acquisition of 98.04% stake in Murapol by Ares Management and Griffin Real Estate was considered one of the biggest M&A transactions on the real estate market in Poland of last year. Murapol has strong core operations and significant opportunity for further growth in one of Europe’s most active residential markets. Murapol has completed investments, in which buildings with about 17,300 flats have been built, inhabited by over 52,000 people. The company is present in major locations in regions, both large cities and satellite towns. In Q1-Q3 2020 the Group entered a new city, Bydgoszcz, expanding the map of the Group's investments that currently, after the newest addition, covers 16 cities in Poland. During the first three quarters of 2020 the Murapol Group signed development and preliminary agreements for 2,140 flats, compared to 1,902 in Q1-Q3 2019. In the whole of 2019, the Group's flats were acquired by 3,674 people, compared with 3,560 a year earlier and 3,605 in 2017.