Aroundtown SA has acquired an 11.8-percent stake in Globalworth. The price of the deal was not disclosed. Aroundtown focuses on properties with value-add potential in central locations in top-tier cities primarily in Germany and the Netherlands. With a commercial real estate portfolio worth more than €13bn, Aroundtown is the largest commercial real estate company in Germany and the fourth largest in Europe based on a market capitalization of €8.6bn.
“We are very excited to have attracted the interest of such a large and reputable strategic investor. This investment constitutes a significant vote of confidence in the achievements of the company so far and its future prospects, and we look forward to working closely with Aroundtown in the years to come as we grow the company in consolidating its position as the leading office investor and the landlord of choice in the CEE region,” said Geoff Miller, chairman of the board at Globalworth.
