The Revetas Group has announced the sale of TriGranit, one of the largest privately-owned real-estate-development platforms in Central Europe, to the DRFG investment group.
Over its two decades of operations, TriGranit has completed nearly 50 projects, adding 1.7 million square meters of gross leasable area across seven countries in the region. According to the Revetas Group, “DRFG has acquired 100% of the shares in TriGranit, which will continue to operate under its established brand, encompassing the entire development area of the group.”
Commenting on the announcement, Eric Assimakopoulos, Founding Partner at Revetas, said, “I am delighted that TriGranit is transitioning to an investor who truly values and recognizes the expertise and dedication of TriGranit’s entire team of professionals, which has been instrumental to our development projects over the past five years. Since our acquisition of TriGranit from TPG in 2018 together with the Keystone portfolio, we have brought new management to the group, TriGranit has completed the iconic, award-winning 37,200 square-meter\ GLA Millennium Gardens office complex in Budapest, completed the eighth office building in the B4B mixed-use development in Krakow, repositioned over 90,000 square meters of office development land to close to 2,000 apartments, amongst other successes. We are confident that under DRFG’s umbrella, they will continue to thrive and achieve new heights.”
“We are excited about the bright future ahead for TriGranit as part of the DRFG family,” says TriGranit CEO Tom Lisiecki. “Under the stewardship of Revetas Capital, we managed to weather the COVID crisis and geopolitical challenges in CEE while completing the landmark Millennium Gardens office complex in Budapest. With new ownership, we will be focusing on new development opportunities and expanding our geographic footprint.”
Image source: trigranit.com