MidPoint71, a modern A-Class office building in Wrocław, was acquired by Trigea Real Estate Fund, the fastest-growing Czech fund. The project of Echo Investment, which obtained the occupancy permit earlier this year, was sold for over 100 million EUR.
MidPoint71, a recently completed office building, has attracted attention of many big tenants due to the great location and design. The project is designed by Medusa architects in line with the latest trends in real estate, both from environmental and employees’ perspective. It is leased above 80% by such a reputable brands as 3M GSC Poland, Pyszne.pl, PwC, CitySpace, CCC Group, and Electrolux Poland. The building is expected to be fully leased in the coming months.
“Wroclaw is one of the strongest markets of the regional cities in Poland and continues getting interest from both tenants and investors. We are very happy to have done our first deal with Trigea and to deliver this fantastic project together that will be a landmark in the Wroclaw office market. Earlier this year we divested West 4 Business Hub I and now we are thrilled that another of our Wrocław’s projects found a new reputable owner,” says Małgorzata Turek, Board Member responsible for divestments at Echo Investment.
Echo Investment also took care of solutions helping to save energy and water, supporting waste management policy and minimizing the building's impact on the environment, to name a few. This is confirmed by obtaining the Excellent BREEAM Interim certificate.
“MidPoint71 was a love at first sight. We knew from the very beginning that this building shall be perfect fit to our portfolio. More likely cooperation with an experienced developer like Echo Investment is an excellent way to enter a new market,” says Tomas Trcka, CEO of Trigea Real Estate Fund.
Trigea Real Estate Fund, a Czech real estate fund established in 2019, is currently one of the fastest-growing Czech fund. Trigea focuses mainly on commercial properties, especially office buildings and retail. The fund operates in Czech Republic and Slovakia and may soon enter another CEE regions.
Echo Investment has been present in Wrocław since 2007 and the developer's first office project became part of the Wrocław landscape 10 years ago. MidPoint71 is Echo Investment's seventh office project developed in the city.
Greenberg Traurig, Baker McKenzie and Colliers advised the seller, while Cushman & Wakefield, CMS, Sentient, and ASB Group acted as the buyers’ advisors on the deal.
MidPoint71 is one of the first Echo Investment’s office buildings with the RCI Active Pure air purification technology. It is based on a natural phenomenon known in nature – the process of photocatalysis. It generates strong, but safe for humans, oxidants that deactivate biological viral and bacterial contamination without the use of chemicals. Research conducted according to FDA requirements has shown that RCI Active Pure also works against the SARS-CoV-2 virus and deactivates it in less than 3 minutes.