GTC has finalized the sale of its first office assets, Galeria Mokotow for USD287m.
Our view: The sale of the office complex has been already announced several months ago and its finalization has been expected. Through, we view the sale as positive given the strong yield compression in Warsaw in the last year and GTC’s focus on higher growth market’s such as Polish secondary cities, Ukraine, Romania and Bulgaria and we view the news as neutral as its has been widely expected.