As reported by CIJ over the summer, Invesco Real Estate is taking over Echo Investmentās landmark office project, Q22. Invesco has just confirmed the deal, revealing that a preliminary agreement has already been signed with the US investor that reflects a yield of roughly 5.35 percent. Delivered this summer, Q22 is currently more than 80 percent leased. Echo expects to reach 90-percent vacancy by the end of the year. Tenants include Deloitte, Allegro, Linklaters, William Demant, Savills, Vestor DM, Citi Handlowy and White & Case. Located in Warsawās CBD, at the corner of Jana PawÅa II and Grzybowska street, the 155-meter tower offers 53,000 sqm of office space.
āGiven Invesco Real Estateās extensive experience and track record in Central Europe, we have access to such off market investment opportunities and this becomes even more important during times when there is lack of comparable opportunities. With an impressive tenant line up this demonstrates that Q22 is one of the most well-regarded assets in the city center of Warsaw and we are proud to become the new owner of it,ā said Tomas Picha, Senior Director, CEE Transactions, Invesco Real Estate.
