Warsaw—Dentons advises Echo Polska Properties N.V. (EPP) on the €692.1 million acquisition of the M1 portfolio of 12 retail properties. The seller is the Chariot Top Group consortium co-managed by Griffin Real Estate through its subsidiaries.
The portfolio comprises 12 retail properties with over 620 stores and a total gross lettable area of 446,500 sq.m. All assets are single-level, fully-leased and situated on large sites facing motorways. The entire portfolio is subject to a master lease from Metro AG which expires in April 2024.
The transaction will be closed in three tranches with the last one closing in mid-2020. Upon completion, EPP’s portfolio will double its size to comprise nearly 1 million sq.m. GLA in at least 27 modern shopping centers.
Paweł Dębowski, Chairman of the Europe Real Estate group, leads the team with the support of partner Bartłomiej Kordeczka and senior associate Jacek Jezierski.
Echo Polska Properties (EPP) is a Dutch dual listed real estate investment company that follows the REIT formula, investing in retail properties throughout Poland. The M1 acquisition is part of EPP’s strategy to create the leading platform of well-performing Polish assets in the retail, office, and industrial sectors.
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