Revetas, the fund that bought Radisson Blu hotel in Bucharest last year, announced that it has made a new transaction to take over the Hungarian developer TriGranit from TPG Real Estate, in partnership with Goldman Sachs’ vintage funds for an undisclosed sum, says Business-Review.eu.
Trigranit, founded by Hungarian businessman Sandor Demjan, deceased in March this year, developed Polus Center Mall in Cluj-Napoca, now in Immofinanz’s portofolio.
TriGranit was also involved in the huge Esplanada project in Bucharest in partnership with the Romanian state, a project that failed after few years of negotiations.
TriGranit’s portfolio of Central and Eastern European assets comprises a total gross leasable area of over 173,000 sqm of office buildings and three permitted office development projects. According to Revetas, the total asset value, including gross development value, exceeds EUR 450 million.
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