Crestyl Group and its subsidiary Spravia have signed a €165 million financing agreement with funds managed by Apollo Global Management. Griffin Capital Partners joined as a minority co-investor alongside Apollo funds.
The financing supports Crestyl's growth activities in Poland and strengthens Spravia's position in the real estate sector. The transaction represents a step in the group's growth strategy, increasing financial flexibility and providing a foundation for future projects.
The deal highlights the attractiveness of the Polish residential market for international capital and emphasises Poland's growing importance in the European investment environment. "The Polish market is key for us and the financing will allow us to expand our Spravia operations," said Magda Pokorná, Chief Corporate Officer of Crestyl Group.
"This is a moment for our organisation and a clear expression of confidence from a global financial partner not only in our company, but also in the Polish residential real estate market. The funds strengthen our market position and support further growth of our business in Poland," said Łukasz Białecki, CFO of Spravia and Board Member. "We see strong potential in the Polish market and believe in the group's long-term growth prospects," said Edward Jones, Partner at Apollo.
Rothschild & Co acted as financial adviser, while legal advice was provided by Allen Overy Shearman Sterling for Apollo and White & Case for Crestyl Group and Spravia. Spravia is one of Poland's leading residential developers, operating in Warsaw, Gdańsk, Gdynia, Poznań, Wrocław and Kraków. The company has completed nearly 25,000 residential units to date. Since 2023, Spravia has been wholly owned by Crestyl Group.
