Linklaters has advised Signal Capital Partners, a multi-euro-billion UK-based private asset management firm focusing on European corporate and real estate special situations investments, acting along with Griffin Capital Partners, the largest privately-owned investment and asset manager in private equity and real estate in CEE, and Echo Investment S.A, the largest Polish development company, on launching a new student housing platform in Poland, subject to anti-monopoly clearance.
The new joint venture is aiming to develop, as a first step, an operating portfolio of 5,000 purpose-built, modern, energy efficient student beds across key academic cities in Poland over the next three to five years. The joint venture will consist of a 70% stake held by a partnership of Signal Capital as the majority shareholder and Griffin Capital Partners. The remaining 30% will be held by Echo Investment. Griffin Capital Partners shall act as the investment and asset manager while Echo Investment will act as the development manager of the venture.
The Polish purpose built student accommodation (PBSA) market is one of the largest student markets in Europe, with over 1.2 million students, of which over 100,000 are international students.
The finalization of the agreement is contingent upon obtaining approval from the antitrust authorities.
The transaction was led by Tomasz Trystuła (managing associate) from Warsaw real estate practice and Piotr Zbyszyński (managing associate) from the corporate/M&A practice. Artur Kulawski (managing partner) and Janusz Dzianachowski (partner) supervised the transaction.
The wider team included: antitrust and foreign investment practice – Wojciech Podlasin (managing associate) and Barbara Wanat (senior associate), tax practice – Michał Nocoń (senior associate) and Jan Jurga (senior associate), real estate practice – Marta Strykowska (senior associate) and TMT/IP practice – Daria Wojciechowska (senior associate).
