SPCG has advised Sonae Sierra, a developer and provider of services for developing commercial real estate, on its acquisition of 50% of the shares in the Balmain Asset Management Group.
SPCG describes Sonae Sierra, which has existed for 15 years, as "an experienced strategic partner, co-investor and expert providing services in sectors of the European commercial real estate market, mainly commercial ones."
According to SPCG, "thanks to this acquisition and the creation of a new JV entity — Sierra Balmain — Sonae Sierra will be able to enter the Polish market and create conditions for further expansion to other markets in Central and Eastern Europe. Sierra Balmain will primarily focus on the continuous expansion of the existing services of the Polish Balmain portfolio, comprising 15 shopping centers in 15 different cities in Poland. Sierra Balmain will combine international experience in real estate with Sonae Sierra, which, with local knowledge of the Balmain team market, will continue to manage its day-to-day operations."
The SPCG team was led by Partners Piotr Kaminski and Wawrzyniec Rajchel.