21:03 25 April 2019
EPP secures M1 transaction financing
Johannesburg Stock Exchange-listed real estate investor EPP has raised approximately €90 million in equity that it will use to finance the second tranche of its M1 portfolio acquisition. The company expects to finalize the second tranche of the transaction by June this year. The deal will add a further 184,000 sqm of retail GLA to EPP’s portfolio. The M1 transaction was announced in December 2017. It will see EPP acquiring twelve M1 shopping centers and retail parks across Poland from a company owned by PIMCO, Oaktree and Redefine Properties for a total of €692 million. The investor will buy the assets in three tranches with the acquisition expected to be completed in mid-2020.
(Warsaw Business Journal)
