<p>Invesco Real Estate has completed the completion of its purchase of Q22, an award-winning c.53,000 sqm, 39-storey office building in Warsaw CBD, which it has acquired from Echo Investment S.A., one of Europe’s largest investment and development companies.</p>
<p>Paddy Bingham, Managing Director, Fund Management – Europe, Invesco Real Estate, commented: “We are delighted to become the owner of Q22, Warsaw’s newest high-rise property in its CBD offering both office and retail facilities to high modern specifications. Not only have we diversified our core portfolio with this acquisition, the quality of the asset adds value to the portfolio by increasing the income return for the strategy and ultimately the performance for our investors.”</p>
<p>Tomas Picha, Senior Director – CEE Transactions, Invesco Real Estate, added: “We are delighted to increase our Central European platform with such an iconic, high quality office property like Q22. Given Invesco Real Estate’s extensive experience and track record in CE, 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 centre of Warsaw.”</p>
<p>Nicklas Lindberg, CEO of Echo Investment, said: “Echo is proud of having completed and sold Q22 office building to such a reputable investor as Invesco Real Estate. In Invesco’s real estate portfolio Q22 will continue being one of the most prestigious building in Warsaw for many years ahead. The transaction is clearly in line with Echo’s strategy of being a pure developer, focusing on development activity and selling its buildings as soon as they are leased up.”</p>
<p>The property features a strong, diversified tenant mix including Deloitte, Allegro, Linklaters, William Demant, CitiBank, Savills, White and Case, Griffin Real Estate as well as Echo Polska Properties and Echo Investment S.A. itself.</p>
<p>Q22 was designed by award-winning local architects Kurylowic & Associates and recently won the prestigious “Prime Property Prize 2016 in Architecture” and “Office Investment of the Year Award” – BREEAM Excellent certificate.</p>
<p>With the acquisition of Q22, Invesco Real Estate has over €800 million invested in Poland with additional projects in the pipeline.</p>
