TVO Global Partners press release:
TVO Global Partners, an affiliate of TVO Groupe, a Chicago-based international real estate investment, development and management organization with operations across the US as well as a growing presence in Europe, the United Kingdom and the Gulf Region of Qatar, Bahrain, Dubai and Abu Dhabi, today announced the acquisition of Property Management, a part of (204 CZK, 8,27%) Property Group, a leading investor, developer and asset manager in the Central European real estate and hospitality market, currently managing assets of 2.2 billion Euros as well as the Sponsor of The Endurance Real Estate Fund. Property Management, headquartered in Prague, currently manages major commercial and residential properties in the Czech Republic, Slovakia, Poland, and Hungary with offices throughout the region. TVO Groupe and its affiliates have been a well known and respected participant in the real estate property sector for over 27 years.
“The acquisition of Property Management represents an important move forward for TVO Global Partners regarding its expansion into the Central European region. We will introduce to the European market the high standards of service and “state of the art" management systems that we are currently using in the US,” said Thomas Koller, TVO Global Partners General Manager. “Our model will be applied to the current portfolio and further expanded across the European region by offering comprehensive Property and Facility Management Services in both the commercial and residential sectors.”
Commenting on the acquisition, Martin Gebauer, Orco’s Group Director of Asset Management, said “This step is in line with our strategy announced on April 7th which we have begun to successfully implement. We look forward to using our local knowledge and experience in the Central European Property market in combination with TVO’s expansion plans, international experience and expertise. Wayne Vandenburg, TVO Groupe’s Chairman, further states that
“We look forward to bringing synergy to Orco’s recently announced strategy as well as providing professional support to its real estate development and investment activities across Central Europe while continuing our operating philosophy geared to achieving and maintaining successful, long term business relationships succinctly referenced as.....our vision, your opportunity.”
Effective immediately, this acquisition strengthens the position of TVO Global Partners and continues its strategy of growth by offering innovative property and asset management solutions to its strategic partners, clients and investors.