EUR 700 million deal makes Apollo-Rida top player on the real estate market

By the end of April, Apollo-Rida Poland, owned by Rida Development and Apollo Real Estate Advisors, finalized a deal with Immopol, a company set up by German banks to develop commercial real estates in Poland. Some 19% of Immopol's stock is owned by Metro AG group, whose supermarkets (Real, Praktiker and Media Markt) are located in the sold malls. Due to the transaction, Apollo-Rida Poland became the leading player on Polish real estate market, as apart from the 600,000 square meters bought now, it owns an additional 200,000 square meters of warehouse and office space in Warsaw. This company two years ago bought the highest office building in Poland, the Warsaw Trade Tower, from Dae-Pol for EUR 100-105 million. (Gazeta Wyborcza, p. 18) D.W.