Austrian real estate company Immofinanz has sold a complex of three office buildings in Warsaw to Polish investor Echo Investment Group.
The transaction value for the properties €28.5 mln, roughly at book value.
Located in Warsaw’s Mokotów Business District, the office complex consists of approximately 43,000 m2 of usable space.
The sale aligns with Immofinanz’s strategy of optimizing its property portfolio.
Radka Doehring, member of the Immofinanz Executive Board, commented: ‘We are pleased about the successful sale as part of our portfolio optimisation programme and will reinvest the released liquidity in the value-creating expansion of our innovative office and retail solutions.’
The offices are located only a 10-minute drive from the city center, as well as from the Frédéric Chopin Airport. The Galeria Mokotów – one of the most popular shopping centers in Warsaw – is in the close vicinity.
Echo Investment is one of the larger players on the Warsaw real estate market. It is currently working with AFI Europe on the Towarowa 22 urban quarter, being built on a 6.5-hectare site and whose construction started in 2022. After completion in 2028, the project will offer around 200,000 m² of mixed-use space.
