ARTICLES LABELLED WITH TAG Echo Investment

In 2018, Echo Investment signed lease agreements for a total office area of nearly 80,000 sqm. This year also seems to be busy - the company plans to start construction of approximately 100,000 sqm of offices including in Warsaw, Wrocław, Łódź and Kraków. Projects with a total area of 150,000 sqm are being prepared.

The Gatehouse Offices, the first office building of Warsaw Brewery, will be acquired by a fund managed by GLL Real Estate Partners. The project of Echo Investment, which will obtain the occupancy permit in Q4 2018, will be sold for €76.5 million.

Individual investors have subscribed to all offered I-series bonds of Echo Investment. The developer will issue the securities worth PLN 50 million (app. €11.6 million).

Echo Investment has signed preliminary sales agreements with Resi4Rent for four projects under development in Warsaw, Wrocław and Łódź for a combined price of €78.6 million (PLN 338.7 million). The four projects - Browary Warszawskie in Warsaw, Wodna in Łódź, Rychtalska and Kępa in Wrocław – will comprise 1,200 apartments altogether.

Excavators have entered the construction site of the office building Face2Face Business Campus located in Katowice. The new project of Echo Investment will offer 21,000 sqm of space.

Echo Investment is launching a joint venture with a company controlled by an unnamed investor. Resi4Rent is the first fully integrated investor, operator and asset manager for purpose-built residential communities in Poland. With more than 1,200 apartments under construction and another 1,700 apartments ready for construction in the next 12 months, Resi4Rent will be the largest residential for rent platform in Poland. The first tenants will be able to move in during the fourth quarter of 2019.

Catalyst Capital, a European real estate investment and fund management firm, has bought Nobilis Business House from Echo Investment for €44 million. The building, located on Marii Skłodowskiej-Curie Street in Wrocław, was completed in late 2016.

In Q3 2017, Echo Investment posted a net profit of €12 million (PLN 50 million). The main contributors were: signing final sale agreements for 238 apartments, increase in the value of projects under construction, the sale price increase of the Q22 building, dividend from EPP as well as the compensation for the expansion of Outlet Park in Szczecin.

The leasing department of Echo Investment finalised the lease of the last unit just before the opening of an extended part of Galaxy in Szczecin. Echo Investment is responsible for the construction and lease of the facility for EPP which is the owner and manager of Galaxy.

Echo Investment and EPP (Echo Polska Properties) have concluded a loan agreement worth €175 million and a VAT loan of PLN 34 million with Bank Zachodni WBK S.A. as an agent as well as PKO Bank Polski S.A. and Bank Gospodarstwa Krajowego. The acquired funds will be used for the construction of Galeria Młociny in Warsaw. The loan was granted for the construction period and a five-year investment period.