Echo Investment S.A. is the biggest Polish developer carrying out investments in three main sectors of the real estate market: residential, shopping centres and office buildings. Since 1996, it has been listed on the Warsaw Stock Exchange. The company has completed over 120 projects in dozens Polish cities, with a total area of close to 1,300,000 sqm. In 2015, Echo Investment SA joined the dynamically developing capital group of Griffin Real Estate – Oaktree – PIMCO.
The main projects for Echo Investment’s future are Galeria Libero in Katowice; residential, office and retail neighbourhood Browary Warszawskie; as well as Towarowa 22 retail and leisure complex in Warsaw.
Name of the deal
Q22 Building Office – Invesco acquisition
Value of the transaction (in EUR)
n/a – due to fresh transaction close-up, the value is supposed to be kept confidential
Yield
n/a
Consultancy which advised Seller
Linklaters, CBRE
Purchaser, plus brief information about the company
Invesco Real Estate (IRE) the global real estate investment manager, has been providing real estate investment and property asset management services since 1983, first in the US and then expanding into Europe and Asia. IRE currently has US$71.3bn of assets under management around the world. In Europe the company manages 130 assets of US$7.9bn across 13 European countries. Currently IRE has c.€740m invested across CEE, both within the commercial and hotel sectors on behalf of pan-European and international investors, in pooled funds and separate account mandates.
Additional information is available at www.invesco.com.
Consultancy which advised Purchaser
Greenberg Traurig, Colliers International
Financing institution
n/a
Current occupancy level
90%
Please say why this deal should be considered for the award
Q22 is a new office building located in the very center of Warsaw. With overall height of over 195 meters, it is one of the most impressive retail investments in recent years.
Q22 was build using the recycled materials from Mercure Hotel. The new building was made of 1,500 tons of recycled steel; 25,000 tons of recycled concrete and 7,750 thousand tons of reinforced steel. The property claimed BREEAM Interim Excellent certificate.
Q22 offers additional value, such as: restaurants, cafes, fitness club, congress center, parking lot for car and bicycles, lockers and showers for bicycle owners, modern solutions for the users of mobile devices and various social facilities. The five-floor parking lot consists of 370 parking spaces.
Unique architecture designed by Kuryłowicz & Associates combined with efficient commercialization and efficient tenant-mix on 54,000 sqm of modern office space, makes the property an attractive asset, also in the long-term perspective.
