Warsaw-listed developer and investor Echo Investment plans to acquire a 16,300 m[sup]2[/sup] office complex in the Polish city of Kielce. The share deal reflects an investment volume of PLN 67.50 mln (EUR 16 mln).
Warsaw-listed developer and investor Echo Investment plans to acquire a 16,300 m2 office complex in the Polish city of Kielce. The share deal reflects an investment volume of PLN 67.50 mln (EUR 16 mln).
Echo has signed a preliminary contract to acquire the holding company Astra Park from a subsidiary owned by Micha³ So³owow, a significant shareholder in Echo.
Astra Park owns a three-building complex and an adjacent land plot in Kielce. Echo has a permit for the construction of a fourth office building with a total area of 10,000 m2.
The acquisition is conditional on approval by Astra's financier, Eurohypo.
Separately, Echo announced that Galeria Echo opened its doors to the public on 19 August. Galeria Echo covers a gross area of 159,000 m2, of which 70,000 m2 is leasable area. Echo said it is the largest hopping and entertainment facility in Poland as regards the number of shops and service outlets.
