Investment group DRFG has announced the significant acquisition of TriGranit, one of Central Europe’s largest privately-owned real estate development platforms. DRFG now holds a 100% stake in TriGranit, which will continue to operate under its established brand, covering the entire development spectrum of the group. This strategic move marks a key step in DRFG’s expansion and reinforces its presence in the Central and Southeast European regions.
“I am thrilled that we have successfully completed this pivotal acquisition, which paves the way for new opportunities. TriGranit has a nearly 30-year history and boasts extensive references in the development field. This will bolster our market position and provide us with valuable expertise. A critical aspect of this acquisition is that the experienced management, which has been with the company for almost 20 years, will remain,” said Roman Řezníček, CEO and shareholder of DRFG.
The acquisition builds on the existing relationship between the two companies, who have been jointly developing a logistics park in western Poland since last year. TriGranit will now oversee DRFG’s projects and continue with ongoing developments such as Millennium Gardens in Hungary and Bonarka for Business in Krakow, Poland. Additionally, TriGranit will maintain its collaboration with the Revetas group on other projects.
“Soon, we will launch the development of three major residential projects in the Czech Republic: Smetanka Park in Olomouc, Ister Tower in Bratislava, and 3 Dvory near Brno. TriGranit will play a significant role in all of them. Combined with our capital, we aim to build TriGranit into a platform that attracts a broader portfolio of investors, including those outside the DRFG group. We also plan to expand cooperation with existing institutional investors,” outlined Jan Pelíšek, Director of Real Estate Development CEE at DRFG.
Tom Lisiecki, CEO of TriGranit, expressed optimism about the future: “We are excited about the bright future ahead for TriGranit as part of the DRFG family. Under the stewardship of Revetas Capital, we managed to weather the COVID crisis and geopolitical challenges in CEE while completing the landmark Millennium Gardens office complex in Budapest. With new ownership, we will focus on new development opportunities and expanding our geographic footprint.”
Eric Assimakopoulos, Founding Partner at Revetas, the seller, added: “I am delighted that TriGranit is transitioning to an investor who truly values and recognizes the expertise and dedication of TriGranit’s entire team. Since our acquisition of TriGranit from TPG in 2018 together with the Keystone portfolio, we have brought new management to the group, completed the iconic award-winning 37,200 sqm Millennium Gardens office complex in Budapest, and repositioned over 90,000 sqm of office development land to nearly 2,000 apartments. Under DRFG’s umbrella, TriGranit will continue to thrive and achieve new heights.”
This acquisition underscores DRFG’s commitment to growth and innovation in the real estate sector, promising a robust future for both DRFG and TriGranit.
