Echo Investment has gained a loan for the construction of the MidPoint71 office building, that is being built in Wrocław on Powstańców Śląskich street. PKO Bank Polski provided the financing of the project.
In accordance with the signed loan agreement, the bank granted Echo Investment EUR 54.4 million in a construction loan, as well as a PLN 7 million VAT loan. Once the construction is finished, the construction loan will be converted to an investment loan. The total funding period ends on 30 June 2026.
“Echo Investment has been involved in the development of Polish cities for nearly a quarter of a century, making them more human-friendly. The modern MidPoint71 is definitely one of such buildings. It will soon become part of the landscape of Wrocław and will provide a place to work for several thousand professionals. The great interest of tenants in this project confirms not only the business potential of Wrocław, but also the positive image of the Echo Investment brand, the excellent location and the quality of the office building. We are constructing he building with renowned partners, such as PKO Bank Polski, who trust in our strategy, believe in the success of our projects and want to become a part of them,” says Grzegorz Iwański, Financing Director at Echo Investment.
MidPoint71, that is being constructed on Powstańców Śląskich street will have 37 thousand sqm office space. Its construction started at the end of 2019, and soon MidPoin71 will reach its zero level. The first tenants will move into the building in the fourth quarter of 2021. One of them will be Pyszne.pl, that will move its Wrocław's Headquarters to MidPoint71 and use 3.5 thousand sqm. The ground floors of the office building will include service points, a restaurant and comfortable common spaces, which can be used for informal meetings or resting between business duties. Equal attention was paid to the creation of an attractive space around the building, which will benefit both users of the office building and the residents of Wrocław. Medusa Group is responsible for the architectural design of this 14-storey building.
Echo Investment has been investing in Wrocław for 15 years, and MidPoint71 is the company's eighth office project in the city, after the buildings of Aquarius Business House, Nobilis, Sagittarius Business House, West Gate and West Link. Currently on Na Ostatnim Groszu street, the first stage of the construction of the West 4 Business Hub building complex is also underway, and the first tenants will move in in August.