Echo Investment secures loan for Oxygen office building in Szczecin (PL)

Echo Investment has concluded a loan agreement with Nordea Bank Polska with a value of €17 mln. The acquired funds will be used to refinance and finance construction costs of the Oxygen office building in Szczecin.


Oxygen is a modern, 9-story office building.

The loan will be paid out in two tranches. The parties have agreed that it will be repaid by March 27, 2017.

"Nordea Bank Polska is our new financial partner, which after Westimmo has joined a large group of banks that cooperate with us. We have acquired a development loan for the office building located in Szczecin, which means that we are an attractive partner for banks despite the insecurity on the financial markets.

"The Oxygen building fulfils all requirements of an A class area. The excellent location of the facility in the very city center, its attractive architecture and high standard of finishing have attracted reputable companies such as Nordea Bank Polska, Tieto Poland, Coloplast Shared Service and Medicover," said Adrian Karczewicz, director from the finance department of Echo Investment, who carried out the transaction on behalf of Echo Investment.

Oxygen is a modern, 9-story office building, located in the very center of Szczecin, at the junction of Malczewskiego street and Wyzwolenia avenue, offering a total leasable area of approx. 13,700 m².

The architectural design was developed in Arch-Deco studio.

Source: Echo Investment

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