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Murapol takeover finalised

Alex Hayes 17 February 2020

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

Murapol takeover finalised
John Ruane, the co-head of European real estate equity at Ares
POLAND A joint venture between a fund managed by the real estate group of Ares Management Corporation and Griffin Real Estate have announced the acquisition of a 98.04 pct stake in Murapol, a leading Polish property development company.

The value of the deal has not been disclosed. Murapol is one of the most active residential developers in Poland, having sold nearly 3,700 apartments in 2019. At present, Murapol has a large pipeline of around 17,700 units under development.

“We are pleased to be partnering with Griffin to acquire one of the most established residential developers in Poland. Murapol has a solid track record of delivering product to the market as well as a strong pipeline for future growth,” said John Ruane, the co-head of European real estate equity at Ares and added: “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.”

“Murapol has strong core operations and significant opportunity for further growth in one of Europe’s most active residential markets,” said Piotr Fijołek, a senior partner at Griffin Real Estate.

Eurobuild first reported on the takeover in December last year.

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