Echo Investment concluded a loan agreement valued at EUR 116 mln with two banks – BZ WBK and PKO Bank Polski. The acquired funds –an investment loan of EUR 112 mln and a VAT loan of PLN 16 mln will be allocated to the construction of the Q22 office building, which is being developed at the junction of Jana Pawła II Avenue and Grzybowska Street in Warsaw.

The parties involved in the transaction on the investor"s side are the Dentons law office, the Mace Polska technical consultancy and the Colliers International real estate appraiser. “Q22 is the largest project in the history of Echo Investment and a priority project not only for us but also for our partners. We are very pleased that we could count on an excellent offer from the consortium of BZ WBK and PKO BP. We have had an opportunity to cooperate with both banks earlier. They are proved and solid partners, which we will hopefully be able to collaborate with again at Echo Investment"s next projects,” says Grzegorz Iwański, director of Echo Investment"s funding department. “We are very pleased that we met Echo Investment"s high expectations concerning the financing offer for Q22. The investor"s precise requirements regarding the structure of the loan presented us with a number of challenges, however, thanks to our close cooperation with the client we worked out a solution which satisfied all the parties. We feel honoured to be part of such a unique project as Q22,” says Beata Myrcik- Klimaszewska, director in the Real Estate Financing Department at Bank Zachodni WBK. In PKO Bank Polski we focus on building relations with clients, which are long-lasting and satisfying for both parties. We offer loans which are adjusted to individual needs, cooperation with top class consultants and knowledge in terms of implementation of significant projects. The consortium loan which has been granted to Echo Investment for the development of the Q22 office building is a model example of such cooperation" emphasizes Ilona Wołyniec, director of the Strategic Client Relations and Project Financing Division at PKO Bank Polski. Q22 is a 155-metre modern office building which is being developed in the business centre of Warsaw. It offers a leasable office area of over 50,000 sqm. The ground floor of the building will include an elegant, glazed lobby. Floors 2 to 14 and 18 to 39 will offer office space whereas floors 14 – 17 will be earmarked for special functions such as a conference centre, a fitness club and a restaurant area. Its five-storey underground car park will offer 348 spaces. In November this year the Polish branch of Deloitte, which represents the largest company in the world in the field of audit, consultancy and risk management as well as financial and tax consulting services, has leased 11,000 sqm of modern office space in Q22. Deloitte was represented by JLL in the process of searching for a new seat and negotiating contract conditions. The cooperation also involves setting tenant"s technical requirements and supervision of the adaptation of the area for the needs of Deloitte, which is to move into Q22 in Q2 2016. The office building is being constructed using top quality materials and technological solutions, the effect of which will be a modern and bright building. Q22 obtained a BREEAM Interim Excellent ecological certificate with the highest score in this category in Poland (79.1 pct). The design of the building was created in the renowned architectural studio Kuryłowicz & Associates in cooperation with Buro Happold Polska. The completion of the construction of the office building is planned for Q1 2016. The project is valued at PLN 500 mln. www.q22.com.pl