Echo Investment and Griffin Real Estate concluded preliminary contracts, on the basis of which Griffin Premium RE.. (a new platform created by Griffin Real Estate) is to take control of the Wroclaw’s office – West Link – and purchase it as a target. The contract is conditional and it will be finalized not later than 31 December 2018.
Additionally, Echo Investment concluded an investment contract, thanks to which Griffin Premium RE.. is to invest indirectly 25 per cent of the capital which is necessary to complete the building and to finalize commercial projects realized in Warsaw by daughter companies of Echo (the investment located at Beethovena Street – 1st and 2nd phase as well as Browary Warszawskie – J phase). Griffin Premium RE.. is to be indirectly entitled to 25 per cent of shares after the sale of the above mentioned projects by Echo Investment and then it will obtain a right to make the first offer of their purchase.
These transactions fit the strategy of Echo Investment consisting in an efficient sale of realized projects, which show a satisfactory level of rented areas making that the obtained money is invested in other projects which bring growth – says Nicklas Lindberg, Chairman of the Management Board of Echo Investment.
It is another step towards both development and diversification of the most attractive portfolio of properties, which is to bring stable returns to the investors and which will result in an opportunity of high dividend payout – says Dorota Wysokińska-Kuzdra, Chairman of Griffin Premium RE..