TPG Real Estate has acquired ECHO Realty, a grocery-anchored retail owner and operator, in a $2 billion transaction backed by PSP Investments, La Caisse and Norges Bank Investment Management.
ECHO owns and operates about 230 grocery- and convenience-anchored retail centers across key Midwest and Southeast markets, with tenants including Giant Eagle, Publix, Harris Teeter, Safeway, ACME, Whole Foods and Alimentation Couche-Tard’s GetGo.
TPG and its investor group will partner with ECHO’s management team to expand the business across existing and new markets, pursue acquisitions, and strengthen leasing, property management and ECHO Retail, its boutique retail brokerage platform.
“The ECHO transaction allow
