GTC Divests Belgrade Office Asset to Forstone Realty
Deal News | Feb 24, 2025 | CEE Legal Matters
GTC, a prominent real estate investor and developer in Central and Southeast Europe, has divested its subsidiary Glamp Beograd, owner of the GTC X office building in New Belgrade. This building comprises around 18,000 square meters of prime office space and a significant underground garage facility. The buyer, Forstone Realty, is expected to benefit from this strategic acquisition in one of Belgrade's most attractive areas. The transaction was managed by Kinstellar's legal team, including experts from their real estate division.
Sectors
- Real Estate
- Legal Services
Geography
- Serbia – The GTC X Building is located in New Belgrade, Serbia, which is where the transaction took place.
- Central and Southeast Europe – GTC operates as a real estate investor and developer in Central and Southeast Europe, indicating a broader regional influence.
Industry
- Real Estate – The article involves a transaction of an office building, highlighting activity in the real estate industry.
- Legal Services – Kinstellar, a legal advisory firm, played a crucial role by providing legal services for the transaction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Globe Trade Centre (GTC) | Selling Company | Company | A real estate investor and developer in Central and Southeast Europe, divesting its Serbian subsidiary. |
| Glamp Beograd | Target Company | Company | GTC's subsidiary that owns the GTC X Building. |
| Forstone Realty | Bidding Company | Company | The acquiring company for the GTC X Building. |
| Kinstellar | Legal Advisor | Company | Provided legal assistance to GTC for the sale of Glamp Beograd. |
| Milan Samardzic | Partner | Person | A partner at Kinstellar involved in the legal advisory for the sale. |
| Mina Sreckovic | Managing Associate | Person | Part of the Kinstellar team advising on the transaction. |
| Djordje Ilijasevic | Associate | Person | An associate at Kinstellar involved in the transaction. |
| Jelisaveta Folic | Associate | Person | An associate at Kinstellar involved in the transaction. |