WARSAW – 11 March 2024 – Greenberg Traurig represented Echo Investment in the signing of joint venture agreements with Signal Capital Partners, as the majority shareholder, and Griffin Capital Partners.
The joint venture will provide an investment platform for the development, construction and sale of modern student accommodation in major academic centers in Poland. The investors aim to develop a minimum of 5,000 student beds over the next 3 to 5 years. The first projects are expected to be launched in Warsaw and Krakow, with plans for opening in September 2025.
The transaction is subject to regulatory approvals.
The Greenberg Traurig team was co-led by Local Partners Klaudia Królak and Kamil Majewski, who were supported by Senior Associate Agnieszka Gul-Czajkowska and Associate Jakub Gajzler. Partner Robert Gago and Senior Associate Filip Drgas provided advice related to competition aspects of the transaction.
Deputy Managing Partner Radomił Charzyński supervised all work on the transaction.
“Congratulations to Echo Investment on completing another investment in the local student housing sector, which has immense potential as the Polish student market is one of the largest in Europe. I believe this presents an excellent opportunity for the rapid development and expansion of the newly established platform, contributing to the evolution of the student housing sector in Poland”, said Radomił Charzyński.
Echo Investment is a Polish property developer with investments in three sectors of the real estate market: residential, retail and office. The company has been listed on the WSE since 1996; it is part of the sWIG80 index.
Signal Capital Partners is a EUR 2.5 bn London-based private asset management firm focusing on European corporate and real estate special situations investments.