Echo Investment has sold West Link to Griffin Premium RE, a new platform created by Griffin Real Estate. The companies have just signed preliminary agreements as a result of which Griffin Premium RE will control and ultimately purchase the Wrocław-based office building West Link and invest into Echo Investment’s commercial projects in Warsaw – Beethovena and Browary Warszawskie.

In recent years, Łódź has enhanced its position as an important destination for companies from the business services sector in Poland. Numerous global brands, such as Accenture, Fujitsu Technology Solutions, Infosys, TomTom and Xerox, have established their business services units in Łódź. JLL summarised 2016 on the office market in Łódź.

After 2015's record-breaking performance, when demand totalled 64,900 sqm, 2016 closed with a very good result – office lease agreements for 64,100 sqm were signed in Poznań. An interesting trend in 2016 was the increased share of pre-let agreements in overall demand - much higher than in previous years. Also, more companies have decided to expand their office space, illustrating how buoyant the market is. JLL summarised 2016 on Poznań's office market.

Echo Polska Properties NV (EPP) and Echo Investment are buying Galeria Młociny in Warsaw from Rosehill Investments. The companies will pay nearly €42 million (including the liabilities of the company being the subject of the transaction) for the project which is already under construction. 

InterContinental Hotels Group (IHG), one of the world’s leading hotel companies, has announced the signing of Holiday Inn Warsaw West Station. The hotel will be developed with franchisees VHM Hotel Management, owned by the Satoria Group SA, and investors Capital Park. 

Pradera, a retail property fund and asset manager, has announced the first closing of the Pradera European Retail Parks SCSp, a Luxembourg fund. In a €900 million transaction agreed with IKEA Centres, the Fund has signed a contract to acquire 25 prime retail parks next to IKEA stores in eight European countries, including Poland and the Czech Republic.

ČS Real Estate fund, the largest and oldest Czech open-ended property fund, managed by REICO, has announced its intention to expand its acquisition programme to Poland and Hungary. 

Building G, the 7th element of the Bonarka for Business (B4B) office complex in Kraków, has been just handed over. The 100% built-to-suit, eight-storey Class A office building has 10,000 of sqm GLA and will host Euroclear, a Belgium-based financial services company. Having closed 8,000 sqm of lease renewals and new leases in the last months, TriGranit plans the delivery of further 3 office buildings in B4B in the near future. 

Invesco Real Estate (IRE), a global real estate investment manager, has acquired the 232-room Sheraton Grand Hotel Krakow for €70 million on behalf of one of its UK pension fund separate account clients. The seller was hotel investor Algonquin.

Master Management Group is developing the tallest building in Łódź. The 19-storey building will be a part of the Piotrkowska 155 mixed-use complex, currently under construction.