Echo Investment has received unconditional agreement from the European Commission (EC) to create a joint venture with R4R Sarl, Echo has reported. The joint undertaking is to concern the construction of the Resi4Rent housing platform.
According to Echo’s announcement, Resi4Rent will be the first Polish rental housing platform. Resi4Rent will be a joint venture between R4R Sarl – an entity controlled by a fund managed by one of the leading investment management companies in the world, which will cover 70 percent of shares, and Echo Investment, which will cover the remaining 30 percent of shares. Echo will be responsible for planning, designing and implementation of the investment, while Resi4Rent will independently manage the platform.