Profil:
Echo Investment SAEcho Investment developer to sell property in Katowice for EUR 103 mln
Listed developer Echo Investment's subsidiary, Galeria Libero - Projekt Echo - 120, has signed an agreement to sell land located in Katowice along with the buildings and structures located on the land for EUR 103 million plus VAT, the company announced in a market filing. The buyer is Warsaw-based company Espliego.
As Echo pointed out in the market filing, on the date of conclusion of the agreement, the seller and the buyer concluded a guarantee agreement regarding the net operating income generated by the property (NOI Guarantee Agreement), under which the rights and obligations of the seller were subsequently assigned to the issuer.
The NOI Guarantee Agreement will expire on December 31, 2030, at the latest.
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