EPP portfolio grows by almost 30% in 2017
19:10
The value of the portfolio of investor Echo Polska Properties (EPP) grew by 29 percent in 2017, to €1.95 billion. The company last year acquired assets worth approximately €334 million and announced the acquisition of the M1 retail portfolio, valued at around €692 million. The purchase will be carried out in several phases, the first of which was finalized at the beginning of 2018. The entire acquisition process will be completed in 2020. The transaction will strengthen EPP’s position of the leading owner and manager of shopping centers in Poland, argued CEO Hadley Dean. “Footfall in our centers is up 4.6% compared to an increase of 3% in the prior year with sales up an impressive 7% compared to 3% in 2016,” Dean said. Vacancies at EPP malls decreased to 1.41% in 2017, from 1.63% in the previous year.
