Rymarz Zdort advises Echo Investment on Towarowa 22 joint venture with AFI Europe and on land purchase for future residential development

Rymarz Zdort advised Echo Investment S.A. (“Echo Investment”) on its joint venture with AFI Europe. The companies are cooperating in connection with the development of a complex of buildings with office, commercial and PRS functions along Warsaw’s ul. Towarowa.

Separately, Rymarz Zdort also advised Echo Investment on its acquisition of property for future residential construction. Echo Investment will act as the exclusive investor for the residential part of the project and as the developer for the entire project.

Towarowa 22 is an investment area of nearly 6.5 hectares located in the heart of the Wola district, a fast-developing part of Warsaw. It was once home to printing works, and a shopping centre is currently located there.

Echo Investment is Poland’s largest developer with extensive experience in the top sectors of the real estate market (residential, retail and office). Since 1996, the company has been listed on the Warsaw Stock Exchange, and Lisala sp. z o.o., owned by Hungarian Wing IHC Zrt and Griffin Real Estate, became its main shareholder in 2019. Echo Investment has completed 200 investments in dozens of Polish cities with a total area exceeding 2 million sqm.

AFI Europe is a leading developer with operations in several major CEE cities that focuses on large commercial and residential projects.

The Rymarz Zdort team advising on the transaction was led by partner Piotr Fedorowicz, head of the real estate practice, with the support of senior associate Karolina Bąkowska, associate Tomasz Karkowski, associate Patrick Koźliczak, associate Agnieszka Jabłońska, and associate Izabela Skrzypczak as well as counsel Irmina Wątły and associate Kamil Kłopocki of the antimonopoly team.