JSE-listed Echo Polska Properties (EPP) has concluded a preliminary agreement to acquire 100% of the equity to all rental income derived from leases concluded by tenants occupying premises in Poland’s Park Handlowy Zakopianka shopping centre.
The centre forms part of a retail park located in the affluent southern part of Krakow, with a catchment area of 1.3-million inhabitants.
The acquired equity will be purchased for an aggregate acquisition cost of €54-million. The vendor of the equity in the acquired entity is EPISO 3 Netherlands Holding.
The transaction is expected to close on April 20, 2017.