KGAL Investment Management GmbH & Co. KG completed the acquisition of FUZJA OFFICE I in Lodz from Echo Investment S.A..
February 10, 2022
Share
KGAL Investment Management GmbH & Co. KG signed a preliminary sale agreement to acquire FUZJA OFFICE I in Lodz from Echo Investment S.A. (WSE:ECH) for 56.4 million on January 11, 2022. Colliers acted as financial advisor while Allen & Overy and Baker McKenzie acted as legal advisors to Echo Investment in the transaction. Savills provided commercial advisory, BNP Paribas Real Estate provided technical appraisal, and NOMOS provided tax advice to KGAL. DLA Piper acted as legal advisor to KGAL.
KGAL Investment Management GmbH & Co. KG completed the acquisition of FUZJA OFFICE I in Lodz from Echo Investment S.A. (WSE:ECH) on February 10, 2022.
Echo Investment SA is a Poland-based company active in the real estate sector. The Company realizes investments in three operating segments: residential areas, providing leasing out and sale of residential and commercial space; shopping centers, providing leasing out and sale of commercial and entertainment space; and office buildings and hotels, providing leasing out and sale of office and hotel space. The Company manages the investment processes of given projects, starting from the purchase of property, through obtaining administrative permits, financing, implementation, supervision to putting the facility into service. The Company provides its services in Poland, Ukraine, Romania and Hungary. The Company operated 75 subsidiaries providing construction and engineering services, as well as rental and management of real estate properties. The main shareholder of the Company is Bafia Sp z o o. It operates through Compass Offices Management Poland Ltd Sp z o o.