ORCO has purchased Viterra Development GmbH and its German and foreign subsidiaries in which the project development business of the German Annington Group is concentrated. Furthermore, additional companies in other European countries, as well as various commercial buildings in Berlin, Cologne and Düsseldorf were acquired. The transaction volume comprises approximately EUR 100 million. The transaction must still be approved by the Polish antitrust authorities.
The buyer is Orco Property Group S.A., listed on the Paris exchange, and ORCO Germany S.A. and its subsidiary. The Orco Property Group, manages approx. EUR 740 million, is one of the leading investors and real estate developers and managers in the central European real estate market.