Echo gets PLN 820 mln investment loan from German bank

Echo Investment has concluded an agreement with German bank Helaba Landesbank Hessen-Thüringen in terms of receiving a €185 million (PLN 820 million) loan. Echo intends to use the funds for refinancing seven retail projects: Galeria Amber, Galeria Sudecka, Outlet Park Szczecin, Galeria Veneda, CH Echo (in Bełchatów), Galeria Olimpia, and CH Echo (in Przemyśl). Echo Investment is a property developer, which manages approxi­mately 400,000 sqm of space occu­pied by shopping centers, offices and housing buildings all over Poland. The company has been listed on the WSE since 1996.