Signal Capital Partners, Griffin Capital Partners and Echo Investment to form a joint venture.

Signal Capital Partners, a multi-euro-billion UK-based private asset management firm focusing on European corporate and real estate special situations investments, Griffin Capital Partners, a privately-owned investment and asset manager in private equity and real estate in CEE, and Echo Investment, a Polish development company, to form a joint venture, to develop an operating portfolio of 5k purpose-built, modern, energy-efficient student beds across key academic cities in Poland. Financial terms were not disclosed. “The PBSA sector in Poland is an established and growing asset class within the living sector, exhibiting strong income and occupancy performance with a weak correlation to wider macroeconomic performance. Polish PBSA is one of the largest student markets in Europe with over 1.2m students, of which over 100k are international students – the most rapidly growing group for whom studying in Poland represents a unique value proposition to obtain internationally-recognizable qualifications at a fraction of the cost when compared to their home countries," Colman McCarthy, Signal Capital Partner.