Globalworth

Globalworth

Commercial real estate sector

Ioannis Papalekas (Founder & CEO)

Founder of Globalworth, Ioannis Papalekas has nearly 20 years of real estate investment and development experience, having created one of the most successful real estate development and investment groups in the CEE region. He has significant experience in the acquisition, master planning, development, reconstruction, refurbishment, operation and asset management of land and buildings across all major asset classes.

Romania and Poland

In 2017, Globalworth expanded into Poland, the CEE region’s largest market, through the acquisition of a majority shareholding in Griffin Premium RE.. NV. (GPRE), which has since been renamed Globalworth Poland. In less than a year, with further acquisition of competitive assets, the company managed to build the biggest office portfolio in Poland and to become the largest institutional office investor and landlord in the country. Listed on the Warsaw Stock Exchange, GPRE is a pure-play Polish real estate platform that primarily owns high-quality office and mixed-use assets located in Warsaw and a number of other major Polish cities, notably Wrocław, Łódź, Kraków, Gdańsk and Katowice. The portfolio, with a value of approximately €1 bln, includes landmark properties such as Hala Koszyki, Spektrum Tower and Warta Tower in Warsaw, West Gate, West Link and Renoma in Wrocław, Tryton Business House in Gdańsk, A4 Business Park and Supersam in Katowice and Green Horizon Office Center in Łódź.

With already extensive experience in Romania, where the company established itself as the largest player on the real estate sector with landmark assets in its portfolio, Globalworth was looking to expand on another competitive market within the region. And Poland was the obvious choice due to its scale, liquidity and the investment attractiveness thanks to renowned, international tenants and excellent professionals. When making the strategic decision to enter Poland, Globalworth considered the necessity of having a local presence, local structures and people who knew the market from the inside out. Therefore, taking over a platform that held real estate and an experienced team was a more strategic decision then acquiring individual buildings and building a competitive portfolio. Thus, in 2017, Globalworth decided to buy a majority shareholding in Griffin Premium RE.. NV. (GPRE), named since Globalworth Poland.

over EUR 830 mln

Globalworth has a rather different business strategy - being a long-term investor, which is rather unique on a market dominated by a relatively short investment horizon, similar to the average duration of a typical lease agreement. Globalworth’s model is a combination of the best features of the investment and development business. The company buys, manages, builds relationships with tenants and adds value to its assets. When selecting the assets for the portfolio, Globalworth pays attention to the location, the condition of the property, its tenants – existing and potential ones, and aims to create business hubs that can be further expanded giving its partners the opportunity to grow their business in the same locations.

Dec 17: Acquisition of the majority shareholding in Griffin Premium Real Estate (GPRE) Dec 17: Acquisition of West Gate, Tryton Business House and A4 Business Park for 160 mln euro Mar 18: Acquisition of Warta Tower for 55 mln euro May 18: Acquisition of West Link for 35,8 mln euro Jun 18: Becoming the largest, institutional office investor in PL after the acquisition of Quattro Business Park for 139 mln euro Jul 18: Acquisition of Spektrum Tower for approx. 101 mln euro

Globalworth’s strategy for the next period is to further strengthen its leading position in Poland and in the CEE region. Therefore, the company is planning new acquisition, being in advanced negotiating to purchase new landmark projects by the end of this year and the beginning of 2019. Globalworth Poland expects another 100,000 sqm to be added to its portfolio in the next few months and another half a million by the end of 2019 is an ambitious but absolutely realistic goal. The company is also strongly focusing on establishing strong and long-term relations with its tenants which is proved by taking over the property and asset management services in properties such as Spektrum Tower, West Link, Hala Koszyki, Renoma and Supersam.