New Owners Acquire BUMA Krakow Developer Group

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BUMA, Wadowicka 3 A. Source: partner's press materials
BUMA, Wadowicka 3 A. Source: partner's press materials
Preliminary sales contracts of the Krakow BUMA developer group were signed at the end of February this year. The purchasers are REINO Capital S.A. consortium and RF CorVal International Holdings Limited.

BUMA Group: Assets

BUMA comprises many office and residential projects at various implementation stages, a land bank for commercial and residential projects, or complementary independent business lines, i.e. a general contractor of the investment, a producer of window woodwork, logistic buildings, and a company responsible for real estate management. Buma Group has been operating in the Krakow market since 1991. It’s executed and commissioned over 2.2 thousand apartments, 300 single-family houses, and office buildings for rent of the size of 260 thousand sqm. The most recognizable projects of the Group are Quattro Business Park and DOT Office.

BUMA Group is a stable developer platform, operating within different segments of the real estate market. It offers unique competences and experience in the industry. The main reason for finding new investors was the possibility of further growth.

Andrzej Suszczyński, a representative of the Supervisory Board, BUMA Group, hopes that the new investors will transform BUMA into one of the leading entities in the Polish real estate market.

 

What Makes BUMA Group Attractive In The Eyes Of Investors

According to Mariusz Piskorski, Ipopema, the transaction of the BUMA Group shows the massive popularity of the Polish real estate market. Due to its values, this is one of the largest investments in the integrated developer platform. It mainly concentrates on the office segment.

The popularity of BUMA Group is noticeable among Polish and foreign investors who haven’t been present on our market so far. The perfect example is the final purchaser who operates with the national REINO Capital, i.e. RF CorVal, a group that manages investments in the Australian real estate sector. Poland is characterized by strong regional markets, including Krakow and Wrocław markets. BUMA Group has been conducting successful business activities for many years. The achievements were appreciated which is emphasized by the huge popularity of the platform among industrial and institutional investors.

The gross value of the acquired assets exceeds the amount of PLN 1.3 billion. The closure of the transaction is envisaged for the end of May 2020.

 


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