REIT Griffin & Echo & Redefine to increase the gross asset value by €1 bln

Griffin Real Estate assumes that REIT fund, created by Echo Investment and Redefine Properties, will increase the gross asset value under management by more than €1 billion within 3-4 years. "Currently, REIT's gross asset value amounts to €1.35 billion. We consider new investments, which we will finance due to the capital growth," announced Co-Managing Partner & Co-CEO, Maciej Dyjas, during a conference. Maciej Dyjas also informed about REIT's intention to enter the stock exchange over the next two years. "More likely, it will be international markets, i.e. Luxembourg or London, and dual listing in South Africa," Co-CEO added. Earlier in March, Redefine Properties, Griffin Real Estate and Echo Investment signed a Polish commercial property deal, estimated at €1.2 billion, creating the first ever REIT with property located in Poland. It was the largest real estate investment transaction in Poland's history and the largest ever single transaction of income generating real estate assets in Central Eastern Europe.