WARSAW/FRANFURT Feb 27 Poland-based Griffin
Real Estate plans to sell part of its asset portfolio in an
initial public offering (IPO) worth about 150 million euros
($159 million) to be announced within days, market sources said.
Griffin Real Estate invests in the commercial real estate
market in Central and Eastern Europe. Its portfolio includes
office buildings and shopping galleries in Poland's biggest
Perhaps its most high-profile investment has been the
restoration of the historic Koszyki Hall, a former city centre
marketplace built in 1909. Griffin has transformed the property
into an upmarket landmark with elegant restaurants, bars and
"(The) IPO and a debut in Warsaw is being planned for a
company carved out of Griffin Real Estate Group. It is about a
portfolio of office and office-retail buildings," a source close
to the transaction said.
Three other sources confirmed the news, saying the IPO would
be valued at about 150 million euros.
Germany's Berenberg and Santander's BZ WBK are advising on
the deal, sources said.
Griffin Real Estate declined to comment.
($1 = 0.9429 euros)
(Reporting by Alexander Huebner, Anna Koper, and Agnieszka
Barteczko; Editing by David Goodman)