Echo Polska Properties has announced its official name change from Echo Polska Properties N.V. to EPP N.V. which has been registered by the trade register of the Dutch Chamber of Commerce.
From the 6th of June 2018, the company will operate as EPP. This concludes the group’s eight-month rebranding process which started in September 2017 with the introduction of its new logo.
Hadley Dean, EPP’s CEO commented:
“In two short years, we have built Poland’s dominant retail property firm, with high-class shopping centres in the best locations to draw in the country’s thriving consumer base. The change in our name should ensure there is no confusion over who tenants, consumers, and investors should look to for the best retail experience in Poland.”
EPP has been developing rapidly by pursuing its long-term strategy of consolidating the retail market in Poland. The company acquired twelve shopping centres and retail parks from the M1 portfolio in December 2017. This acquisition totaled €692 million and it became one of the biggest transactions in the history of Poland’s commercial property market. The takeover will be executed in three tranches and it will be completed in the next two years.
The first stage was closed in January earlier this year and the remaining two stages are scheduled for June 2019 and June 2020. Following the finalisation of the deal, EPP’s portfolio will include at least twenty-six shopping centres in a total Gross Leasable Area of nearly one million square meters.
The company manages its asset and real estate portfolio in-house, using proprietary technology to maximize its tenants’ profits and allowing it to procure the highest lease values whilst maintaining the lowest vacancy rates. EPP has developed Poland’s premier asset management team responsible for lease and asset value growth.
“Our strategy of providing our tenants with robust business support to ensure a great experience for Poland’s consumers has proven to be successful and translates to a better bottom line for our investors. We are constantly monitoring the market to meet its needs,” Dean said.
With the resolution of the Annual General Meeting of Shareholders held on 24 May 2018 all companies operating within the former Echo Polska Properties Group will now change their names, including Echo Polska Properties Sp. z o.o. and Echo Polska Properties N.V., which will operate as EPP Sp. z o.o. and EPP N.V., respectively.