Griffin Premium REIT (EBRD-49092)

Countries
  • Poland
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 22, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
GRIFFIN PREMIUM RE BV
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.14 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 84.39
Converted using 2018-02-06 exchange rate.
Project Cost (USD)
$ 160.57 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 539.048
Converted using 2018-02-06 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 28, 2019

Disclosed by Bank Feb 6, 2018


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Project Description

This project invests in the initial public offering (IPO) of a Netherlands-based and Dutch law governed real estate investment trust (REIT), Griffin Premium RE..N.V. The trust owns real estate assets across Poland, and the EBRD's investment enabled the company to be listed on the Warsaw Stock Exchange, becoming the first real estate investment trust to operate under the new Polish REIT law.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Pre IPO, the Company was indirectly controlled by funds managed by Oaktree Capital Group LLC, a global alternative investment management firm listed on the New York Stock Exchange. After the IPO, the free float reached around 57%, with existing shareholders holding the remainder. In December 2017, the Company attracted Globalworth Real Estate Investments Ltd as a strategic investor that will support its strategy and further expansion across Poland.

Contact Information

Malgorzata Turek, CEO
Malgorzata.Turek@griffin-premium.com
+48 22 212 19 90
+48 22 21 21 999
http://www.griffin-premium.com/
6 Szucha Avenue 00-582 Warsaw Poland

ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.