GTC has sold Matrix A and B office buildings in Zagreb
Globe Trade Center (GTC) has signed a contract for the sale of two office buildings: Matrix A and B in the Croatian capital. The new owner is a Croatian development group with an established position on the local market. The transaction amount is 7% above book value and represents a cost recovery of more than 22%, GTC said. The closing of the transaction is scheduled for the end of the third quarter of this year.
The Matrix A and B buildings are part of the Matrix Office Park, a modern business center located in Zagreb, which offers a total of approximately 75,500 sqm of office space and over 520 parking spaces. Matrix A and Matrix B were commissioned successively in 2019 and 2020. Both buildings are LEED certified with the highest Platinum level. GTC has started the construction of the third Matrix Office Park building - Matrix C, which will be put into use in the second quarter of 2023. After the completion of this investment, the group plans further development in this area, the company announced.
The closing of the transaction is scheduled for the end of the third quarter of 2022. Currently, GTC's real estate portfolio in Croatia includes the Avenue Center office building, the Avenue Mall shopping center and the Matrix C under construction. All of these properties are in a prime location and are well connected to major transport routes, the report also said.