Three new investors buy into Echo
Investment & financeschedule 30 May 2016
Developed by Echo Investment, West Gate in Wrocław is one of the properties in the EPP platform
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POLAND South African fund Pivotal is to acquire from Redefine a 6 pct share in the Echo Prime Properties (EPP) platform.
The buyer will pay app. EUR 31.15 mln. The deal, which ‘Eurobuild CEE’ wrote about in April, should be closed by May 31st. Another South African company, Astoria Investments, has also announced plans to invest in EPP. The company, which is expecting a 9.5 pct yield, will pay Redefine EUR 13 mln for a 2.6 pct stake in the platform. Another investor interested in EPP is Tadvest Limited, a real estate fund listed in Namibia and Mauritius, which is to buy a 0.76 pct stake in EPP for EUR
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