ECHO INVESTMENT

The biggest Polish developer in the office, commercial and residential real estate sector listed on the Warsaw Stock Exchange.

It has completed over 200 projects with an total area of over 2,000,000 sqm located in an array of Polish cities. In 2015, Griffin, together with Oaktree and Pimco, conducted a transaction to purchase a majority stake in Echo Investment. In 2016, an agreement between Echo Investment and Redefine was concluded. Redefine Properties acquired a majority of shares (75 %) in Echo Prime Properties (now EPP), controlling all yielding commercial assets of Echo Investment, with a value of EUR 1bn. The remaining 25% of shares remained with Echo Investment. In late 2019 Wing, Hungary’s leading real estate company, together with Griffin and its affiliates, finalized the acquisition of a 56% stake in Echo Investment, followed by the additional acquisition of its 10% stake via a public tender.

Griffin Capital Partners remains a co-investor and co-manager, holding a 66% stake with Wing.

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