December 4, 2017 / 9:38 AM / 2 years ago

BRIEF-Griffin to acquire Polish retail properties in 1 bln euro deal

Dec 4 (Reuters) - Griffin Real Estate:

* Chariot Top Group BV, a company co-managed by Griffin Real Estate, through its subsidiaries, signed a preliminary agreement to acquire of a portfolio of 28 retail properties, including nine M1 shopping centres in Poland, from funds managed by Ares Management L.P., AXA Investment Managers – Real Assets and Apollo Rida.

* The value of the deal is around 1.0 billion euro, Griffin says. The portfolio has a total gross leasable area (GLA) of about 704,000 square metres

* The acquisition will be partially financed with approximately 635 million euros of bank debt, Griffin Real Estate says

* Following the closing of the transaction the consortium including Chariot Top Group will re-sell a part of the portfolio to EPP, which, upon the completion of the deal, will become the largest retail property owner in the region

* “We had a unique opportunity to acquire a highly diversified and attractive portfolio of assets,” says Maciej Dyjas, managing partner at Griffin Real Estate​ Further company coverage: (Reporting by Marcin Goettig; Editing by Edmund Blair)

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