In brief

GRIFFIN GROUP and IMMOBEL on a 50/50 basis have acquired on the 10th of November 2011 from RUCH S.A. seven development plots in Poland with the total estimated development volume exceeding 150,000 sqm of leasable office/retail space and residential sales area. Five plots are located in Warsaw (Wronia/Prosta Str., Jana Kazimierza Str., Kierbedzia Str., Krakowska Av., Duracza Str.), one in Gdańsk (Kopernika Str.) and the last one in Kraków (Pokoju Av.).

In the acquired portfolio, 85% of development volume is situated in Warsaw, which provides for diversification between Warsaw and the two other regional markets (Krakow & Gdansk).

The recent acquisition is part of IMMOBEL's strategy of geographical market diversification, which was initiated last February by the acquisition of development projects in Warsaw and Poznań.