EPP (Echo Polska Properties)

EPP is a leading asset and property manager of retail properties in Poland. It is a Dutch dual listed real estate company that follows the REIT formula, investing in retail properties throughout Poland. With a current portfolio that includes 6 office, 14 retail projects totalling GLA over 620,000 m² and two retail development sites in Warsaw, our initial portfolio is highly diversified. The buildings are located in 18 cities across the country, characterized by their strong economy and purchasing power, and ability to attract international investment interests. EPP's goal is to create Poland’s leading, cash-generating platform of well-performing retail assets that will deliver consistently high returns to our shareholders. The company employs over 150 team members.
Name of company EPP (Echo Polska Properties)
Name of President or Managing Director for the region Hadley Dean
President or Managing Director for the region profile Hadley Dean, CEO - brings more than 20 years of real estate experience to EPP. Most recently the CEO of Compass Offices’ EMEA operations; Hadley helped Compass grow in EMEA to become the leading serviced office provider with a network extending to Australia, Japan, Kazakhstan, Singapore, and the UAE. Hadley is a huge promoter of Poland as the country for foreign investments. EPP grew from nearly 100 to almost 150 people within the first year of operations.
Description of company and team EPP is a leading asset and property manager of retail properties in Poland. It is a Dutch dual listed real estate company that follows the REIT formula, investing in retail properties throughout Poland. With a current portfolio that includes 6 office, 14 retail projects totalling GLA over 620,000 m² and two retail development sites in Warsaw, our initial portfolio is highly diversified. The buildings are located in 18 cities across the country, characterized by their strong economy and purchasing power, and ability to attract international investment interests. EPP's goal is to create Poland’s leading, cash-generating platform of well-performing retail assets that will deliver consistently high returns to our shareholders. The company employs over 150 team members.
Regions active in (in which countries the company operates) 150, Poland
Portfolio of all properties currently held by your company Galeria Młociny, Warsaw; Galeria Echo, Kielce; Pasaż Grunwaldzki, Wrocław; Galaxy, Szczecin; Galeria Amber, Kalisz; Galeria Sudecka, Jelenia Góra; Towarowa 22 – Warsaw Retail Development Site; Malta Office Park, Outlet Park Szczecin; Zakopianka Retail Park, Kraków; Wzorcownia, Włocławek; Twierdza, Kłodzko; Twierdza, Zamość; Galeria Olimpia, Bełchatów; Galeria Solna, Inowrocław; Galeria Veneda, Łomża; Astra Park, Kielce; Oxygen, Szczecin; Centrum Echo, Przemyśl; O3 Business Campus, Kraków; Symetris Business Park, Łódź; Park Rozwoju, Warsaw
Office projects included in the portfolio Symetris Business Park, Łódź, Oxygen, Szczecin, O3 Business Campus, Kraków; Astra Park, Kielce; Park Rozwoju, Warsaw; Malta Office Park, Poznań
The value of office properties held by investor (in EUR) EUR 266 million
Retail projects included in the portfolio Towarowa 22 – Warsaw Retail Development Site; Galeria Młociny; Galeria Echo; Pasaż Grunwaldzki; Galaxy Szczecin; Galeria Amber, Galeria Sudecka; Outlet Park; Zakopianka Retail Park; Wzorcownia Shopping Center; Twierdza Kłodzko; Twierdza Zamość; Galeria Olimpia; Galeria Solna; Galeria Veneda; Centrum Echo Przemyśl;
The value of retail properties held by investor (in EUR) Total EUR 1.49 billion
Warehouse projects included in the portfolio -
The value of warehouse properties held by investor (in EUR) -
The largest purchase transactions between October 2016 and September 2017 (subject of the transaction, its total take up area and value in EUR) • Acquisition of Galeria Solna in Inowrocław for EUR 55.4 million
• Acquisition of 3 retail assets from Blackstone funds for EUR141.60 million (Wzorcownia, Twierdza Kłodzko, Twierdza Zamość)
• Acquisition of 70% stakes in Wasaw-based Galeria Młociny for EUR29 million
• Zakopianka Retail Park in Kraków for EUR53.3 million
- Acquisition of 70% stakes in Towarowa 22 development site in Warsaw for EUR 120 million

Total EUR 400 million
Total GLA acquired 316 000 sq. m.
Future plans There are 14 existing shopping centres in our portfolio and 2 developments project in Warsaw (Galeria Młociny and Towarowa 22). We would like to double it by 2020. We are on our way to deliver this promise and we are constantly looking at a number of market opportunities considering our key criteria i.e. regionally dominant shopping centres with the potential for extensions or innovative improvements and with a catchment area amounting to about 150,000 people, retail projects in major cities where we are not yet present alike Łódź, Poznań, Gdańsk.
We want to own shopping centres that are in dominant catchment areas in Poland, which makes them defensible and therefore sustainable.
The value of the funds for the investment, whether the investor is permanently established in countries in the region, the number of employees We continue to execute our investment strategy and both acquisitive and organic growth opportunities underpinned by our active asset management, which leverages our platform with retail tenants to achieve economies of scale, ensure we remain on track for solid growth. Leveraging its portfolio reach is expected to be further enhanced by the development of the two Warsaw retail development sites. In addition, driven by solid economic fundamentals Poland’s economic health is expected to continue being a key driver of ongoing retail growth.Currently, the EPP’s LTV is slightly above 50%.The company is also considered stable thanks to its strong investors, Redefine Properties, Griffin Real Estate, PIMCO and Oaktree, who support its growth.
Acquisition activity across the CEE real estate markets between October 2016 and September 2017 • Taking over Galeria Solna in Inowrocław for EUR 55.4 million
• Acquisition of 3 retail assets from Blackstone funds for EUR141.60 million
• Acquisition of 70% in Wasaw-based Galeria Młociny for EUR29 million
• Zakopianka Retail Park in Kraków for EUR53.3 million
- Acquisition of 70% stakes in Towarowa 22 development site in Warsaw for eur 120 million
Why the company deserves the award (in a paragraph you can describe the specific achievements of the company) Since its establishment in June 2016, EPP has been the most active investor in Poland’s retail property market. The company successfully implements its goal to become the national champion and to consolidate Poland’s retail market.
Company website www.echo-pp.com
Name of company
EPP (Echo Polska Properties)
Name of President or Managing Director for the region
Hadley Dean
President or Managing Director for the region profile
Hadley Dean, CEO - brings more than 20 years of real estate experience to EPP. Most recently the CEO of Compass Offices’ EMEA operations; Hadley helped Compass grow in EMEA to become the leading serviced office provider with a network extending to Australia, Japan, Kazakhstan, Singapore, and the UAE. Hadley is a huge promoter of Poland as the country for foreign investments. EPP grew from nearly 100 to almost 150 people within the first year of operations.
Description of company and team
EPP is a leading asset and property manager of retail properties in Poland. It is a Dutch dual listed real estate company that follows the REIT formula, investing in retail properties throughout Poland. With a current portfolio that includes 6 office, 14 retail projects totalling GLA over 620,000 m² and two retail development sites in Warsaw, our initial portfolio is highly diversified. The buildings are located in 18 cities across the country, characterized by their strong economy and purchasing power, and ability to attract international investment interests. EPP's goal is to create Poland’s leading, cash-generating platform of well-performing retail assets that will deliver consistently high returns to our shareholders. The company employs over 150 team members.
Regions active in (in which countries the company operates)
150, Poland
Portfolio of all properties currently held by your company
Galeria Młociny, Warsaw; Galeria Echo, Kielce; Pasaż Grunwaldzki, Wrocław; Galaxy, Szczecin; Galeria Amber, Kalisz; Galeria Sudecka, Jelenia Góra; Towarowa 22 – Warsaw Retail Development Site; Malta Office Park, Outlet Park Szczecin; Zakopianka Retail Park, Kraków; Wzorcownia, Włocławek; Twierdza, Kłodzko; Twierdza, Zamość; Galeria Olimpia, Bełchatów; Galeria Solna, Inowrocław; Galeria Veneda, Łomża; Astra Park, Kielce; Oxygen, Szczecin; Centrum Echo, Przemyśl; O3 Business Campus, Kraków; Symetris Business Park, Łódź; Park Rozwoju, Warsaw
Office projects included in the portfolio
Symetris Business Park, Łódź, Oxygen, Szczecin, O3 Business Campus, Kraków; Astra Park, Kielce; Park Rozwoju, Warsaw; Malta Office Park, Poznań
The value of office properties held by investor (in EUR)
EUR 266 million
Retail projects included in the portfolio
Towarowa 22 – Warsaw Retail Development Site; Galeria Młociny; Galeria Echo; Pasaż Grunwaldzki; Galaxy Szczecin; Galeria Amber, Galeria Sudecka; Outlet Park; Zakopianka Retail Park; Wzorcownia Shopping Center; Twierdza Kłodzko; Twierdza Zamość; Galeria Olimpia; Galeria Solna; Galeria Veneda; Centrum Echo Przemyśl;
The value of retail properties held by investor (in EUR)
Total EUR 1.49 billion
Warehouse projects included in the portfolio
-
The value of warehouse properties held by investor (in EUR)
-
The largest purchase transactions between October 2016 and September 2017 (subject of the transaction, its total take up area and value in EUR)
• Acquisition of Galeria Solna in Inowrocław for EUR 55.4 million
• Acquisition of 3 retail assets from Blackstone funds for EUR141.60 million (Wzorcownia, Twierdza Kłodzko, Twierdza Zamość)
• Acquisition of 70% stakes in Wasaw-based Galeria Młociny for EUR29 million
• Zakopianka Retail Park in Kraków for EUR53.3 million
- Acquisition of 70% stakes in Towarowa 22 development site in Warsaw for EUR 120 million

Total EUR 400 million
Total GLA acquired 316 000 sq. m.
Future plans
There are 14 existing shopping centres in our portfolio and 2 developments project in Warsaw (Galeria Młociny and Towarowa 22). We would like to double it by 2020. We are on our way to deliver this promise and we are constantly looking at a number of market opportunities considering our key criteria i.e. regionally dominant shopping centres with the potential for extensions or innovative improvements and with a catchment area amounting to about 150,000 people, retail projects in major cities where we are not yet present alike Łódź, Poznań, Gdańsk.
We want to own shopping centres that are in dominant catchment areas in Poland, which makes them defensible and therefore sustainable.
The value of the funds for the investment, whether the investor is permanently established in countries in the region, the number of employees
We continue to execute our investment strategy and both acquisitive and organic growth opportunities underpinned by our active asset management, which leverages our platform with retail tenants to achieve economies of scale, ensure we remain on track for solid growth. Leveraging its portfolio reach is expected to be further enhanced by the development of the two Warsaw retail development sites. In addition, driven by solid economic fundamentals Poland’s economic health is expected to continue being a key driver of ongoing retail growth.Currently, the EPP’s LTV is slightly above 50%.The company is also considered stable thanks to its strong investors, Redefine Properties, Griffin Real Estate, PIMCO and Oaktree, who support its growth.
Acquisition activity across the CEE real estate markets between October 2016 and September 2017
• Taking over Galeria Solna in Inowrocław for EUR 55.4 million
• Acquisition of 3 retail assets from Blackstone funds for EUR141.60 million
• Acquisition of 70% in Wasaw-based Galeria Młociny for EUR29 million
• Zakopianka Retail Park in Kraków for EUR53.3 million
- Acquisition of 70% stakes in Towarowa 22 development site in Warsaw for eur 120 million
Why the company deserves the award (in a paragraph you can describe the specific achievements of the company)
Since its establishment in June 2016, EPP has been the most active investor in Poland’s retail property market. The company successfully implements its goal to become the national champion and to consolidate Poland’s retail market.
Company website
www.echo-pp.com

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