Private equity firm Lone Star is planning to cash in on its investment by selling its controlling stake in Globe Trade Centre (GTC).
GTC is a listed Poland-centric commercial real estate platform with exposure to key capital cities in the Central and Eastern Europe region.
Lone Star said on the back of the strong performance of GTC since the initial investment in 2013, it has appointed J.P. Morgan and UBS to help review its options.
The options include a sale of its entire 59.29% stake to a strategic or financial investor.
“However, it is not contemplating a placing of any of its GTC shares in the public equity markets by way of an accelerated book building,” Lone Star said.
GTC currently owns and manages around €2.0bn office buildings and shopping centres assets.
Lone Star’s LSREF III GTC Investments, the majority shareholder of GTC, is a subsidiary of Lone Star Real Estate Fund III.