Echo Polska Properties NV (EPP) and Echo Investment are planning to buy Galeria Młociny, currently underway in Warsaw’s Bielany district, from Rosehill Investments. The cost of the deal is estimated at €42m. EPP and Echo Investment will hold 70 percent and 30 percent shares in the new retail and entertainment center respectively. EPP will be the asset manager, while Echo Investment will be responsible for commercialization and marketing. Galeria Młociny is approximately 60 percent pre-leased, including to fashion retailers like Inditex, Van Graaf and H&M. Completion is scheduled for the spring 2019.
