GTC Acquisition and Construction Overview
EXECUTION OF GROWTH STRATEGY
Case study
Sold
Sold
Sold in October 2020
Neptun Office Center, Gdańsk,
Poland
GTC White House, Budapest,
Hunagry
Spiral*, Budapest, Hunagry
T
Acquisition cost
(Єm)
Acquisition
31.5
Investment cost
(€m)
51.9
Investment cost
(€m)
49.4
Q3 2016
Completion
Q2 2018
Sale
Q4 2019
Sale
Q3 2019
Completion
Sale
2009
Q4 2020
GLA (sq. m)
16,100
GLA (sq. m)
21,600
GLA (sq. m)
30,600
At acquisition
At sale
At completion
40%
Value creation
35%
Value creation
At sale
At completion
70
51
44
.9
31
35
.5
At sale
27%
49.4
Value creation
27
62
2.6
Acquisition cost
(Єm)
Invested after
acquisition (€m)
Fair value
(€m)
Investment cost
(Єm)
Source: GTC
42
| GTC GROUP |
Fair value
(€m)
Investment cost
(€m)
Fair value
(Єm)
(*) for Spiral all the numbers are in HUF, converted to EUR at HUF/Euro 360;
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