Funds managed by Partners Group are to acquire nine newly built, largely occupied office buildings from BUMA's portfolio and two assets under construction with a total leasable area of approximately 125,000 sqm for circa €200 million. The assets are located in Kraków and Wrocław. REINO Partners will partner with Partners Group to manage the portfolio.
The gross leasable area of the standing assets is approx. 100 000 sqm, while those under construction amount to approx. 25 000 sqm. Following the conditional signing, closing is expected over the next weeks.
“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 look forward to implementing our value creation strategy across the portfolio with our local operating partner REINO Capital and in close cooperation with existing as well as prospective tenants. 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,” said Marco Denari, Member of Management, Private Real Estate Europe at Partners Group.
"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, worth over €200 million," Radosław Swiatkowski, CEO of REINO Capital added.
The main transaction advisor to the buyers in the process of taking over the BUMA Group's assets is Greenberg Traurig, while Deloitte has been entrusted with financial and tax consultancy, with Goodwin Procter (UK) LLP providing legal advice on the proposed asset management partnership between Partners Group and REINO Partners. The sellers are advised by Clifford Chance, Ipopema and Ernst & Young.
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