NEW YORK–(BUSINESS WIRE)–Sterlington advised the management team of ECHO Realty (“ECHO”), a full-service owner and operator of best-in-class grocery-anchored retail real estate, on its recently announced acquisition of the company by TPG Real Estate (“TPG”), in a transaction valued at approximately $2 billion.
The transaction was led by TPG in partnership with leading global investment groups, including PSP Investments, La Caisse, and Norges Bank Investment Management. Sterlington advised the ECHO management team on the sale and go-forward equity comp arrangements.
ECHO owns and operates approximately 230 retail centers located across key Midwest and Southeast U.S. markets, anchored by grocery and convenience stores with premier tenant relationships including Giant Eagle, Publix, Harris Teeter Supermarkets, and Whole Foods Market. Since inception, the platform has acquired and developed more than 16 million square feet of neighborhood and regional centers.
Executive Compensation partner Jeremy L. Goldstein led the Sterlington team, alongside M&A partner Christopher S. Harrison, M&A partner Michael Gilligan and Executive Compensation partner Kristy Fields.