Landmark transaction in Serbia: GTC sells office portfolio to Indotek Group
Mihai Cristea 25/05/2021 | 15:20
Globe Trade Centre has decided to sell its Belgrade office portfolio to the Hungarian investor Indotek Group. The proposed acquisition price is 267.6 mln euro, exceeding the book value of GTC’s Serbia portfolio as of 31 December 2020. The agreement will cover the sale of 11 buildings within 5 business parks of a total 122,175 sq m GLA with high occupancy rates, located in the New Belgrade district. Once completed in Q3 2021, the sale will become one of the largest real estate transactions in the last 5 years on the CEE market.
Intending to optimize its operations in Serbia, GTC has signed a sale and purchase agreement for the sale of 11 premium quality office buildings within 5 business parks – Green Heart, FortyOne, Belgrade Business Center, 19 Avenue and GTC House – occupying over 122 ths. sq m in the business heart of Belgrade. The tr