Echo Investment has announced the sale of latest phase of the Krakow-based office complex – Brain Park C – to Greenstone Asset Management.
According to the developer, the fully leased building provides 13,700 square meters of GLA and has an Excellent BREEAM rating. It is part of an office complex designed by Baumschlager Eberle Architekci Krakow studio.
Greenstone Asset Management is a boutique private equity and investment management company based in Warsaw. Since 2017, it has placed approximately 150 million EUR into Polish commercial properties so far located in the Tricity area and Szczecin. The acquisition of Brain Park C will be the first Greenstone transaction in Krakow.
“Among the most desired and best-connected business centres in Krakow, Brain Park has strong ESG credentials and an ‘Excellent’ BREEAM rating,” commented Echo Investment Head of Investment & Divestment Judyta Sawicka. “Its efficient workspaces appeal to the most demanding employers, while the wellbeing features respond to the needs of their staff. The transaction with Greenstone AM is genuine proof that office developments in Polish regional cities remain attractive to renowned investors. The sale of Brain Park C will contribute to Echo Group’s strategy of profitable growth aimed at new investments and our stakeholders’ interests.”
“Brain Park C perfectly fits our strategy of investing in modern, future-proof office buildings in Poland’s most dynamically developing regional cities,” added Greenstone Asset Management Partner and Member of the Board Stephane Chauvel. “Its strong tenant mix, excellent connectivity, and high sustainability standards make Brain Park C a stable investment, providing our investors with long-term, predictable returns. We are pleased that we have completed our first transaction in Krakow by acquiring such a high-quality property from Echo Investment.”
The seller was supported by Colliers, with legal advisory services provided A&O Shearman. The purchaser was advised by Trebbi and Legal Kraft.
Image source: en.echo.com.pl