Published: January 3, 2012
Investment manager teams with Hungary’s TriGranit to run office development.
Real estate investment manager Heitman has teamed with Hungary’s TriGranit Development Corporation to own and operate four office properties in Budapest.
Chicago-based Heitman’s European Property Partners IV fund (HEPP IV) has formed a joint venture with TriGranit to manage the Millennium Portfolio, the properties of which were developed by TriGranit.
HEPP IV has €505mn (US$642mn) in equity commitments and is entering its final year of deploying capital across Central and Eastern Europe. Heitman was advised by law firm Salans.