US real estate giant TPG partnered with Czech Contera
US real estate company TPG partnered with industrial park Contera. The purpose of the partnership is to initiate TPG investments in Central Europe.
“In forming the venture, we are partnering with a highly experienced and proven local team to pursue opportunities in a region and sector that continue to experience strong growth trends,” commented Michiel Celis of TPG Real Estate Partners. “We look forward to making this a successful, long-term partnership and hope to invest significantly more capital as we source new projects and execute on an exciting pipeline of opportunities.”
The project, which the partnership will launch first, will be an industrial zone. The industrial zone is located in the Czech Republic and is located on an area of 140,000 square meters. In addition, TPG purchased an asset worth 90 million euros from Contera.
“Our partnership with TPG will allow us to expand significantly and reach strategic scale in the Czech and Slovak markets,” says Dušan Kastl, co-founder and managing director of Contera.
Sevdenur Demir / [email protected]