Polish listed property developer Echo Investment has signed preliminary contracts for the sale of three shopping centres in the Polish cities of Radom, Tarnów and Piotrków Trybunalski.
Polish listed property developer Echo Investment has signed preliminary contracts for the sale of three shopping centres in the Polish cities of Radom, Tarnów and Piotrków Trybunalski.
The new owner of the facilities will be London & Cambridge Properties, which is buying the assets for a total of €67 mln.
Echo Investment said it will use the proceeds to finance its development pipeline.
'We hope that it is the beginning of a long and successful cooperation with our new partner,' said Echo Investment's Adrian Karczewicz.
The shopping centre in Radom has a retail area of 19,500 m2 while the mall in Tarnów provides 20,200 m2 of space. The scheme in Piotrków Trybunalski is located on Sikorskiego Street and offers a retail area of 17,400 m2.
The buyer was represented by Savills.
