Invesco has signed an agreement to buy the Q22 building in Warsaw. The seller is one of the largest investment and development companies in Poland, Echo Investment.
Q22 is a 155m modern office building located in Warsaw’s central business district. Completed in July 2016, it offers 53,000m² of office space.
The agreement, in the form of a notarial deed, amounts to €230.3m. The deal covers the retail and office building as well as the land plot. The seller also signed with Invesco a quality guarantee agreement for construction work, a property management agreement, a rental guarantee and an agreement for fit-out work.
The preliminary purchase agreement for the Q22 project was signed by Invesco on 31 October 2016.
The buyer was represented in the transaction by advisory firm Colliers International.
“The acquisition of Q22 by INVESCO is the largest investment transactions in the office market in Poland and one of the biggest in Central and Eastern Europe in 2016.” said Piotr Mirowski, partner at Colliers International, Director of CEE Investment Services.
