The deal is said to be officially finished in the first quarter of 2013. Thanks to it, Black Rock will receive asset value of 12 billion $. The takeover is caused by the will of expansion and improvement of company's investing abilities in Asia and Pacific, as well as in Europe.
Thanks to the takeover of MGPA, BlackRock will become a global investment company in the real estate sector. The joint asset value will of the company will equal 25 billions $.
Jack Chandler, Global Head of Real Estate in Black Rock, emphasizes that the transaction is compatible with the strategy of the company's development. Its main focuses are: the development in Asia and Pacific region, as well as in Europe, making experience and broadening the local offer. Jack Chandler also notices that thanks to MGPA takeover, the company will be provided with high-qualified staff and the significant capabilities on real estate market. In fact, the transaction is not going to lead to diminishing human resources.
MGPA operate on real estate market in office, commercial, living and hotel sector. It has five properties in Poland: Rondo 1 in Warsaw, Angel Wings complex in Wrocław, the living complex Wilanów One in Warsaw, the commercial center Karolinka in Opole and the commercial center Pogoria in Dąbrowa Górnicza. In the portfolios of MGPA, there are also asset values in Japan, Malaysia, Singapore, China, Australia, UK, France, Germany, Italy and Denmark.