Echo Polska acquires Zakopianka Retail Park for EUR53.3 million

Echo Polska Properties N.v. said it has acquired 100% of the equity in Zakopianka Retail Park,

In a statement issued to the Johannesburg Stock Exchange, Echo Polska said the acquisition has given its the legal right as the owner of the acquired ‘entity to all rental income derived from leases concluded by tenants occupying premises within Zakopianka Retail Park other than those portions of the Zakopianka Shopping Centre leased to owner occupied Carrefour and Castorama stores.

The company said it paid EUR53.3 million for the 100% stake.

Echo Polska also disclosed that the property is currently 98% leased. The transaction has been completed earlier today.

Corporate information
Echo Polska Properties is a Dutch dual listed real estate investment company that follows the REIT formula, investing in commercial office, retail, and industrial properties throughout Poland. With a current portfolio that includes 10 office, 10 retail projects and one retail development site in the centre of Warsaw, totalling 636 170m² our initial portfolio is highly diversified. The buildings are located in 16 major cities across the country, characterized by their strong economy and purchasing power, and ability to attract international investment interests.

Our goal is to create Poland’s leading, cash-generating platform of well-performing office, retail, and industrial assets that will deliver consistently high returns to our shareholders.

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