Echo Investment divests Kraków office to Sando for €40.3m

Polish real estate developer Echo Investment has finalised the sale of Brain Park B, the last building in its Kraków office complex, to Polish company Sando Office for € 40.3 mln.

Brain Park, Kraków

This A-class, 16,250 m2 office space is fully leased and boasts BREEAM "Excellent" certification, along with WELL Health-Safety and WiredScore "Platinum" standards.

This sale completes the divestment of the entire Brain Park complex, following the earlier sales of buildings C and A.

This marks the second transaction between Sando Office and Echo Group, with Sando previously acquiring the City 2 office building in Wrocław.

Echo Investment continues its development activities in Kraków, with the WITA mixed-use project currently underway.

Judyta Sawicka, head of Divestment & Investment at Echo Investment, stated: “The divestment of Brain Park B demonstrates that our well-designed, modern and fully let office developments continue to attract capital. For Echo Investment, this is yet another step in the consistent execution of our profitable growth strategy: we are unlocking capital from mature assets and redirecting it into new ventures with high potential. The deal confirms both the quality of the project and investors’ confidence in the best office assets in Poland.”

Przemysław Bokwa, CEO of Sando Office, added: “We are pleased to add another high-quality, sustainable office building to our portfolio, combining an attractive location, top environmental standards and long-term investment potential. We believe that such assets will consistently build value in the years to come.”

LS-Corporate Legal Szermach and Colliers advised the buyer, while Echo Investment was advised by A&O Shearman.