TriGranit is one of the largest, fully integrated real estate platforms in Central Europe, focusing primarily on quality retail and Class “A” office buildings in strategic urban locations. TriGranit conducts a full spectrum of real estate activities, including acquisition, development, construction, as well as property and asset management. In its two decades of operation, TriGranit has developed nearly 50 landmark projects creating 1 million square meters of GLA in seven CEE countries and has won more than 40 highly prestigious international awards.
Name of the deal
The sale of Bonarka City Center
Value of the transaction (in EUR)
EUR 361 million
Yield
4,9%
Consultancy which advised Seller
Dentons
Purchaser, plus brief information about the company
Rockcastle has primary listings on the Johannesburg Stock Exchange and the Stock Exchange of Mauritius. The company’s objectives are investing in retail assets in Central and Eastern Europe as well as listed real estate securities globally. Its operational office in Warsaw, Poland is responsible for the company’s direct real estate activities, including asset management, development and transactions.
Consultancy which advised Purchaser
Greenberg Traurig
Financing institution
n/a
Current occupancy level
94,41%
Please say why this deal should be considered for the award
The Bonarka City Center development in Krakow is an exceptional 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 19ha brownfield site - an abounded chemical factory - into a new leading city district. The retail and entertainment centre was opened in 2009, and since, after seven years of innovation and active property and asset management, Bonarka still is one of the best shopping centres in the region, with consistent footfall growth and high quality tenants mixThe market defining transaction in September 2016 – the sale of this extraordinary estate to RockCastle - should be considered for the award, since with the total area of 92,300 sqm, the sale of Bonarka was the largest single asset transaction this year in Poland. The transaction proves again that the assets developed and managed by TriGranit represent a high quality & value on the market.
