KREA Gayrimenkul

A: Büyükdere Cd. No.185 Kanyon Ofisi Bloğu K:3 Levent İstanbul
T: +90 212 353 11 11
F: +90 212 353 11 15
Activity Areas: Developer
The Krea Group, which started its activities in July 2006, is the Turkish business partner of the Merrill Lynch Global Principal Investments Group (ML GPI), serving as its real estate developer and investment advisor.
Merrill Lynch GPI (ML GPI) is the group responsible for managing Merrill Lynch's international real estate funds. ML GPI invests in high-return real estate-based debt and capital markets instruments, portfolios, and development projects, both on an independent basis and via joint ventures.ML GPI is an expert and innovator in capital investment, restructuring and expanding the market through new product development.
The Krea Group's subsidiaries include: KREA Real Estate, a real estate development company; Bosphorus Real Estate Fund (BREF), a real estate investment fund REVAL (Retail Value), a service provider covering a full range of activities in retail real estate, including shop- mix, concept design, asset management,shopping center management, marketing, leasing and advisory services.
Bosphorus Real Estate Fund (BREF), structured as a discretionary private equity fund, is a limited partnership organized under the laws of Jersey to invest in real property assets in the Republic of Turkey.BREF held its initial closing with €205 million of equity commitments and aims to invest at least 1,1 billion Dolar's within 3 years. Krea Group is the operating partner of Merrill Lynch Global Principal Investments Group (ML GPI), acting as investor, project developer, fund manager and investment adviser in Turkey. Krea's founding partners and executives include Hakan Kodal, the Founding Chairman of the Association of Real Estate Investment Companies, Chair of Urban Land Institute Turkish District and former General Manager of Yapı Kredi Koray, Zafer Ergüven, former Assistant General Manager of Yapı Kredi Koray responsible for project development and Maxence Liagre, former General Manager of Cefic, the company responsible for the management and marketing of 14 shopping centers in Turkey including the Carrefour chain of shopping centers.
BREF has signed agreements for 6 projects in Turkey, representing an investment of 1 billion Dolar's and will continue to target real estate investments, with a focus on residential and retail developments as well as mixed-use projects. Thus far, two residential projects and 4 shopping centers have been developed. The shopping center projects, developed under Neo Shopping Center brand, are located in the prosperous Anatolian city of Eskişehir, and the fast-developing İstanbul suburbs of Pendik, Bahçeşehir with the Fund's most recent investment being located the rapidly expanding manufacturing city of Adapazarı. KREA, in the first year following its establishment, was named " The Best Developer" and the "The Best Investment Management Company" of 2007 in the Euromoney Liquid Real Estate Awards. In 2008, KREA also earned the "Best Retail/Shopping Center Developer Award" in the Euromoney Liquid Real Estate Awards.Krea Group's first investment, the Neoplus Outlet Center Eskişehir won "The Best Christmas Concept Design Award" in Turkey in January 2008.
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