Echo Polska Properties €692.1 million acquisition of M1 portfolio

Overview:

• Echo Polska Properties (EPP) has acquired the M1 real estate portfolio for €692.1 million from the Chariot Top Group consortium co-managed by Griffin Real Estate.
• The portfolio consists of 12 shopping centres and retail properties hosting 620 stores with lettable space of of 446,500 square metres.
• The portfolio is part of a larger acquisition of 28 properties acquired by Chariot from ARA Retail Centers. Chariot then subsequently sold on the 12 to EPP.
• The transaction will be enacted in three stages in total.
• EPP is a Dutch listed REIT.

Sam Duke - Editor