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One of the largest developers in Poland, Murapol, was acquired by a joint venture established by a fund managed by Real Estate Group Ares Management Corporation and Griffin Real Estate. In total, 98.04% of Murapol shares were purchased.
Murapol is a promising investment- the company boasts numerous achievements delivering a good quality product to the market, as well as a large number of projects in progress, according to John Ruane, a partner and the president of the European real estate equity department at Ares fund.
The portfolio of projects under construction of the Murapol group as at the end of 2019 is over 6.85 thousand premises with a total usable area of more than 296.8m2, developed in 57 buildings as part of 21 investments throughout Poland. Moreover, Murapol is an established company with good growth prospects in one of the most active residential markets in Europe, comments Piotr Fijołek, senior partner at Griffin Real Estate.
Griffin Real Estate is the largest private equity investor in Central and Eastern Europe operating in the real estate sector. The gross value of assets under management by Griffin exceeds EUR 5 billion. Ares Management Corporation, listed on the NYSE, operates in the area of alternative investments, operates three companies specializing in credit, private equity and real estate.