Global private markets investment manager Partners Group has acquired 11 office assets in Poland from real estate firm Buma group in a €200 mln deal.
The portfolio includes nine newly built, largely occupied office properties and two assets under construction in Kraków and Wroclaw with a total leasable area of around 125 000 m2.
Marco Denari, member of management, private real estate Europe, Partners Group, said: 'The acquisition of the Buma portfolio is aligned with our strategy of acquiring cash-flowing assets, let to good-quality tenants in geographies with strong economic fundamentals.
'We have conviction towards the Polish residential, office and logistics markets and we plan to further build-up our presence in this region, targeting cash-flowing portfolios with short to medium term value-add potential.'
Reino Partners, part of the Reino Capital holding company listed on the Warsaw Stock Exchange, will partner with Partners Group to manage the portfolio post-closing.
'Many years of experience and strong local competences make us a first-choice partner for global investors who want to invest capital in Polish real estate. We are pleased that Partners Group's funds will entrust us with the joint asset management of this Polish portfolio post-closing,' added Radoslaw Swiatkowski, CEO of Reino Capital.
The gross leasable area of the standing assets is approx. 100,000 m2, while those under construction amount to approx. 25,000 m2.
The main transaction advisor to the buyers was Greenberg Traurig; Deloitte was entrusted with financial and tax consultancy.
Goodwin Procter (UK) provided legal advice on the proposed asset management partnership between Partners Group and Reino Partners.
The sellers were advised by Clifford Chance, Ipopema and Ernst & Young.
