NAME OF PRESIDENT OR MANAGING DIRECTOR FOR THE REGION
Hadley Dean – CEO
PRESIDENT OR MANAGING DIRECTOR FOR THE REGION PROFILE
Hadley Dean has been EPP’s helmsman since the company was launched in 2016. He has played an integral part in the company’s operations, developed its business growth strategy and provided crucial thought leadership. In addition to his wide experience and know-how, he is a natural leader with great team-building competences. Under his guidance the company has become the biggest shopping centre operator in Poland.
Type of investor
Commercial retail properties
REGIONS ACTIVE IN (IN WHICH COUNTRIES THE COMPANY OPERATES)
Poland
OFFICE PROJECTS INCLUDED IN PORTFOLIO
EPP currently manages 6 office properties, amounting to a total of 163 000 sqm GLA – Oxygen in Szczecin, Astra Park in Kielce, Park Rozwoju Warszawa (stage I, stage II), O3 Business Campus in Kraków, Malta Office Park in Poznań, Symetris Business Park in Łódź (the last three locations are owned by a JV between EPP and Henderson Park).
MARKET VALUE OF OFFICE PROPERTIES HELD BY INVESTOR (in EUR)
360 mln euro
SIZE OF THE OFFICE PROPERTIES HELD BY INVESTOR (GLA)
163 000 sqm
RETAIL PROJECTS INCLUDED IN THE PORTFOLIO
The list includes Galeria Młociny in Warsaw, Galeria Echo in Kielce, Galaxy in Szczecin, Pasaż Grunwaldzki in Wrocław, King Cross Marcelin in Poznań, Galeria Amber in Kalisz, Galeria Sudecka in Jelenia Góra, Park Handlowy Zakopianka in Kraków, Wzorcownia in Włocławek, Galeria Solna in Inowrocław, Galeria Twierdza in Kłodzko, CH Galeria Twierdza in Zamość, Galeria Olimpia in Bełchatów, Galeria Veneda in Łomża, Outlet Park Szczecin and Centrum Echo Przemyśl, and the M1 properties in Łodź, Zabrze, Czeladź, Kraków, Bytom, Częstochowa, Radom and Poznań. Additionally, the Towarowa 22 development site in Warsaw.
MARKET VALUE OF RETAIL PROPERTIES HELD BY INVESTOR (in EUR)
2.4 bln euro
SIZE OF THE RETAIL PROPERTIES HELD BY INVESTOR (GLA)
900 000 sqm
WAREHOUSE PROJECTS INCLUDED IN THE PORTFOLIO
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MARKET VALUE OF WAREHOUSE PROPERTIES HELD BY INVESTOR (in EUR)
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SIZE OF THE WAREHOUSE PROPERTIES HELD BY INVESTOR (GLA)
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HOTELS INCLUDED IN THE PORTFOLIO
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MARKET VALUE OF HOTELS HELD BY INVESTOR (IN EUR)
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SIZE OF THE HOTELS HELD BY INVESTOR (GLA)
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RESIDENTIALS BUILDINGS INCLUDED IN THE PORTFOLIO
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MARKET VALUE OF RESIDENTIALS BUILDINGS HELD BY INVESTOR (in EUR)
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SIZE OF THE RESIDENTIAL BUILDINGS HELD BY INVESTOR (GLA)
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OTHER AREAS OF THE COMPANY’S OPERATIONS AND ALTERNATIVE INVESTMENT MARKETS (APARTMENTS FOR RENT, SENIOR HOUSES, STUDENT HALLS, DATA CENTRES)
EPP also manages the Q22 office building in Warsaw and the Libero shopping centre in Katowice.
OTHER ASSETS INCLUDED IN THE PORTFOLIO
n/a
MARKET VALUE OF OTHER ASSETS HELD BY INVESTOR (in EUR)
n/a
SIZE OF THE ASSETS HELD BY INVESTOR (GLA)
n/a
THE LARGEST PURCHASE TRANSACTIONS BETWEEN OCTOBER 2009 AND SEPTEMBER 2019 (THE SUBJECT OF THE TRANSACTION, ITS TOTAL TAKE UP AREA AND MARKET VALUE IN EUR)
In October 2017, EPP signed an PSPA for the acquisition of larger portfolio of 12 shopping centres and power parks (446 500 sqm) with the Chariot Group and the Chariot Top Group. The assets aggregated value is 692.1 mln euro. The acquisition has been divided into three tranches. The first tranche was successfully concluded in January 2018 (358.7 mln euro), tranche 2 finalized in June 2019 (224 mln euro) with tranche 3 expected in June 2020.
ACQUISITION ACTIVITY ACROSS THE CEE REAL ESTATE MARKETS BETWEEN OCTOBER 2009 AND SEPTEMBER 2019
In 2016, EPP and Echo Investment concluded a joint purchase of the Towarowa 22 mixed-use project for 120 mln euro and acquired seven office buildings from Echo Investment for 264 mln euro.
In 2017, EPP acquired a 70% stake in Galeria Mlociny, a mixed use project in Warsaw for 32 mln euro, 3 retail properties from funds managed by Blackstone for 142 mln euro, the Zakopianka retail park in Krakow for 53 mln euro , Galeria Solna shopping mall in Inowroclaw for 55 mln euro, and O3 Business Park phase II office in Krakow for 49 mln euro.
In July 2018, EPP announced the completion of its acquisition of the King Cross Marcelin Shopping Centre. The 91.1 mln euro acquisition was EPP’s first entry into Poznan, an attractive retail market.
In September 2019, the JV between EPP and Henderson Park purchased the third and final building in the O3 Business Campus office park in Kraków for 47,2 mln euro.
Annual income and net profit
In 2018: 143 mln euro NOI, 96 mln euro of distributable earnings.
The milestones in the company’s history over the last decade – the key events and achievements that are a measure of the company’s development and success, the scale of development, number of employees now and 10 years ago, new services, new markets etc.
Following its IPO in 2016, EPP’s portfolio consisted of 10 retail and 6 office projects. The company had less than 100 employees. Its vision was to create a Polish national champion that leverages its scale and relationships to provide a leading and largest cash-generating property group that will deliver consistently high returns to shareholders. At year’s end in 2016, the company increased its portfolio by 35% and 42% in terms of value and GLA respectively. By December 31 2017, EPP owned 18 retail, 2 development and 6 office projects in 18 cities. Additionally, in October of the same year, it signed a PSPA for the acquisition of 12 shopping centres and power parks (the M1 portfolio) for 692.1 mln euro. Following the announcement of its results for 2018, EPP, now employing 220 people, saw its footfall and sales increase by 1 percent respectively, with net operating income up by 38%.
FUTURE PLANS
Following its successful interim results in H1 2019, EPP remains firmly on track to meet its strategic goal to consolidate the Polish shopping centre market. All key operational highlights, including footfall, sales and occupancy have increased, and the company has continued to upgrade the size and quality of its assets in the most lucrative Polish cities. EPP aims to maintain its asset recycling strategy, reap dividends from the initiatives of its asset management teams, integrate its portfolio of new assets and continue to work on its capital structure. EPP is looking forward to 2020, when its attractive and diversified pipeline will include 28 retail projects, with over 1 000 000 sqm of GLA, a footfall of over 120 mln and 40% of the Polish population within a 30 min drive.
WHY THE COMPANY DESERVES THE AWARD (IN ONE PARAGRAPH DESCRIBE THE SPECIFIC ACHIEVEMENTS OF THE COMPANY)
Over the last 3 years EPP has become a champion and dominant owner and operator of retail real estate in Poland by building its portfolio, structures and organisation from scratch. The company now controls shopping centres located in the most lucrative Polish cities and seeks to further enhance the quality of is retail portfolio and boost its balance sheet strength. Its spectacular expansion was supported by the bold decisions of its management and the efforts of a team of high calibre professionals.
