Echo Investment is the biggest Polish developer, operating in the office, retail and residential real estate sectors. The company is listed on the Warsaw Stock Exchange.
Echo Investment has completed over 210 projects with a total area of over 2,250,000 sqm located in an array of Polish cities. In 2015, Griffin, together with Oaktree and Pimco, conducted a transaction for the purchase of 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 together with Wing.