Wing, a leading Hungarian company with a presence on the European real estate market, has acquired a majority stake in Echo Investment. Wing was advised throughout by global real estate services firm Cushman & Wakefield.
“Congratulations to everyone involved! We have just finalized a transaction that will make Wing a significant player on the regional market. Our team was very innovative in bringing the parties together. We introduced them to each other and provided due diligence services for Wing,” said Charles Taylor, Head of Cushman & Wakefield Poland.
“This transaction offers Wing a long-term growth potential. In this case we can talk about a platform transaction, which unlike any other typical real estate investment, gives the investor access to future projects and, more importantly, access to a very strong, established team, because what matters in real estate today is people. We congratulate Wing and ECHO Investment on this strategic decision,” said Paweł Partyka, Partner, Capital Markets, Cushman & Wakefield.
Wing has been one of the largest privately-held real estate companies in Hungary and a leading Hungarian developer and investor for 20 years. Wing was the first real estate company to be listed on the Budapest Stock Exchange.
Echo Investment is the largest Polish developer and the only one on the real estate market with a strong track record in three sectors: residential, retail and service, and office. It has been listed on the Warsaw Stock Exchange since 1996.