Echo Investment to sell office properties in 4 Polish cities

Echo Investment has signed a preliminary agreement to sell seven office buildings to Echo Polska Properties. They have a total gross leasing area (GLA) of almost 112,000 sqm, with a total value of almost €264 million.

The properties being sold are: O3 Business Campus in Kraków (phase I, II, and III), Tryton Business House in Gdańsk, A4 Business Park in Katowice (phase III), and Symetris Business Park in Łódź (phase I and II).

The transactions are part of EPP executing its right of first offer (ROFO) to purchase 10 properties developed by Echo Investment. Tryton, O3 phase I, A4 Business Park III, and Symetris I are ready; completion of O3 phase II and Symetris II is planned for the end of 2016; and the last of the sold buildings – O3 phase III – will be ready in 2017.