Echo Investment sold office building in Łódź for 32.5 million euros

Echo Investment's subsidiary sold the REACT office building in Łódź, located at Al. Piłsudskiego 24. The transaction was finalized for approximately 32.5 million euros plus VAT, and the new owner of the property became Maggiora from Warsaw. The building, being a fully rented facility, was considered an attractive investment. The agreement also included the right of ownership of the land, related movables and specific obligations of the seller towards the tenants.

Payment for the property was divided into two parts: 90% of the price was paid at the time of signing the agreement, while the remaining 10% will be paid within 12 months, with interest accrued at a rate of 8.5% per annum. Echo Investment agreed to carry out interior finishing work in the building and cover costs related to periods of no rent and rent reductions for current tenants. Additional agreements included guarantees of quality and securing future rent for not yet rented spaces.

The sale of the REACT office building fits into Echo Investment's strategy, which assumes the disposal of ready and rented office facilities. Through this transaction, the company strengthens its position in the commercial real estate market in Poland, while achieving its financial and operational goals.