Echo Investment sells Polish office tower for €273m

Echo Investment has sold the Q22 skyscraper in Warsaw to Invesco Real Estate for €273 million ($286 million).

Construction of Q22, which is located on the Avenue of John Paul II, was completed in July 2016. Tenants include Deloitte, Allegro, Linklaters, William Demant, Vestor DM, Citi Handlowy, Savills and White and Case, as well as Griffin Real Estate, Echo Polska Properties and Echo Investment.

Real estate investment transactions in Poland concluded year-to-date through Dec. 21 totaled €4.4 billion ($4.6 billion), according to JLL’s preliminary forecasts for 2016’s total volume of real estate investment transactions in Poland. Poland’s real estate investment volume in 2016 has exceeded 2015’s total already.

The real standout performer was the retail market, which came in with total investment volume of €1.952 billion ($2.05 billion), followed by the office segment with sales of €1.708 billion ($1.79 billio