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Growthpoint to buy into GPRE

Eurobuild CEE 13 April 2018
Growthpoint to buy into GPRE
Warta Tower in Warsaw is the latest purchase of GPRE

POLAND Growthpoint Properties, a REIT listed on the Johannesburg Stock Exchange, has agreed to subscribe for shares in Griffin Premium RE (GPRE).

The company is to invest no less than EUR 120 mln and no more than EUR 150 mln. GPRE has agreed to allocate to Growthpoint no more than 30 pct of its diluted share capital. GPRE was recently rebranded as Globalworth Poland after Romanian investor Globalworth bought a 71.7 pct majority stake in the company. Growthpoint Properties previously purchased a 27.7 pct stake in Globalworth in December 2016.

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