GTC expands asset base by 20% in 2016

GTC expands asset base by 20% in 2016

Published at: 2017-03-20 10:20 | Author: CIJEurope.com
Strengthening its position in the CEE and SEE regions, GTC expanded its asset base by 20 percent to €1.261bn in 2016 by investing €140m in office properties and completing several projects. GTC’s latest acquisitions and efficient refinancing include: Pixel in Poznań, Premium Plaza and Premium Point in Bucharest, Neptun Office Center in Gdańsk, Sterlinga Business Center in Łódź, Forty One II in Belgrade as well as University Business Park B in Łódź.
“GTC delivered solid results in 2016, several value-accretive acquisitions and completions of office projects contributed significantly to NAV and NOI growth. We will deliver a strong performance over the next years to come as our income-generating portfolio will expand and boost rental income through further accretive acquisitions and the completion of development projects,” said Thomas Kurzmann, GTC’s CEO. The company currently has 139,000 sqm of retail and office space under construction and an additional 181,000 sqm in planning stage.

Similar Stories:

MIPIM 2018: Czech cities Prague, Brno and Ostrava again in a joint exhibition
On 13 March, the Palais des Festivals (Cannes, France) will open its doors for MIPIM 2018,  »
CMS advises PPF Group on acquisition of Nova Broadcasting Group
CMS has advised Czech investment fund, PPF Group on the acquisition of Bulgarian media com  »
Czech-based PPF group buys Nova Broadcasting in Bulgaria
Sweden Modern Times Groups is selling 95 percent of its shares in Nova Broadcasting, Bulga  »
New tech park in Skopje attracts flurry of new investment
The Albanian pharmaceutical company Sagen will invest more than €20m in Skopje 1, a high  »
ČS nemovitostní fond (CSNF), managed by REICO investiční společnost České spořitel   »
Zeitgeist Asset Management has made its opening move in Poland with the acquisition of two   »
“We forecast at end of the first quarter that 2016’s record-breaking €12.2bn of inve   »
Czech investor Tomáš Fiala, owner of the Ukrainian group Dragon Capital in 2014, sold th   »