Pridehold Sp. z o.o., a PZU Group company, has bought the Athina Park office park located in Warsaw from Echo Investment for over 32 million.
It is the second disposal in this quarter concerning one of Echo Investment's office buildings following the sale of Avatar in Kraków last month. It is also the biggest transaction on the Polish investment market where both the vendor and the purchaser are local.
"We are satisfied with the result of negotiations and with the fact that we have managed to close the transaction so quickly. Despite the holiday season the sales process and negotiations with PZU AM lasted five months. The fact that both Echo and PZU are Polish companies was definitely an advantage. It gave us a possibility to run the negotiations and prepare due diligence in Polish, which considerably shortened the negotiation process," says Adrian Karczewicz Business Development Director at Echo Investment.
Echo Investment was represented by Jones Lang LaSalle in the sales process.
Source: Echo Investment