Ares Management and Griffin Real Estate acquire majority stake Polish development company
A joint venture between a fund managed by the Real Estate Group of Ares Management Corp. and Griffin Real Estate has acquired a 98.04 percent stake in Murapol SA, a leading Polish property development company. The value of the deal was not disclosed.
“Poland is one of Europe’s most undersupplied residential markets and exhibits strong demand fundamentals. This acquisition extends our longstanding track record in Poland and aligns with our strategy of investing in residential across Europe’s major markets,” said John Ruane, partner and co-head of European real estate equity at Ares.
Murapol is one of the most active residential developers in Poland, having sold nearly 3,700 apartments in 2019. Murapol is focused on delivering affordable units to a broad segment of the Polish residential market throughout the country’s largest cities. At present, Murapol has a large pipeline of approximately 17,700 units under development.
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