Echo sells office scheme for €56 mln

WSE-listed real estate developer Echo Investment signed a preliminary deal to sell the Sagittarius Business House office scheme in Wrocław to a German fund W-HIH Immo Invest. The deal is worth €56 million, but could be increased to €63 million if at least 80 percent of space in the building will be leased, Echo said in a market filing. Additionally, Echo will get €6.4 million net for fit-out works. The parties want to conclude the final agreement by November 30, 2018, but the closing date may be postponed until January 31, 2019.