Griffin eyes two acquisitions this year

Griffin Real Estate, which has recently purchased Echo Investment, plans to complete two acquisitions by the end of the year, its CEO, Przemysław Krych told propertynews.pl. "We are working on a huge corporate acquisition as well," Krych said. The company has been successfully operating in the market of services for students, therefore it plans to expand in this market but it may also "go against the tide," Krych pointed out. Polish billionaire Michał Sołowow, the owner of 41.55 percent of developer Echo Investment shares, sold his stakes to Luxembourg's Griffin Real Estate and U.S. investment fund Pimco, Lisla, a subsidiary controlled by Griffin and PIMCO  called on Echo Investment's shares in July in order to increase its stake from 41.55 percent to 66 percent.