Profil:
Echo Investment SAEcho developer sells React office building for around EUR 32.5 mln
React - Dagnall, a subsidiary of listed developer Echo Investment, has sold to Warsaw-based company Maggiora the property in Lodz on which the React office building was developed, Echo announced in a market filing. The sale price was approximately EUR 32.5 million plus VAT.
The release stated that the seller will be paid an amount corresponding to 90 percent of the net price. Payment of the remainder of the price will be deferred for up to 12 months. Interest of 8.5 percent per year will be charged for the deferred payment.
The parties have also entered into a building quality guarantee agreement and a rent guarantee agreement.
At the end of November, Echo reported that the conditional agreement for the sale of the property had been concluded.
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