Summus Capital, one of the leading real estate investment holding groups in the Baltics, acquires a real estate property in the Polish market. The Libero Katowice shopping centre, which will be added to the company’s portfolio, was acquired at a value of EUR 103 million and is the largest single-asset retail transaction of the year in Poland.
This is already the second successful transaction in Poland, where Summus Capital acquires a successfully operating real estate from Echo Investment. The office building in Łódź, which was transferred to the Summus Capital portfolio last year, earns positive cash flow and the company’s new real estate object is a shopping centre covered by almost 100% tenants.
” Libero Katowice is a strong and well-positioned retail asset with well-known tenants and long-term potential. This acquisition reflects our long-term strategy to strengthen Summus Capital’s presence in Poland, which we perceive as one of the most dynamic real estate markets in the region, and to maintain the retail segment at approximately half of our portfolio to ensure continued value growth“ says Hannes Pihl, Strategic Asset and Investment Management Partner at Summus Capital.
“The centre has a favourable location for locals and is visited by nearly 6 million people a year. This acquisition underlines our confidence in the Polish market and its strong long-term prospects,” Pihl adds.
After the Libero transaction, Summus Capital has a real estate portfolio consisting of a total of 15 real estate objects in the Baltics and Poland, with Poland’s share in it being slightly over 35%. The company’s portfolio includes diversified retail, office, logistics and medical properties with a total value of EUR 565 million.
Libero Katowice is one of the highest BREEAM In-Use certified retail buildings in Poland. The shopping Centre continues to invest in environmentally friendly solutions – its Building Management System (BMS) ensures energy-efficient operation, the heating system is based on heat pumps, rooftop solar panels generate electricity, and an underground reservoir allows for rainwater reuse. These solutions reduce operating costs, enhance the building’s value, and improve visitors`comfort.
Penteris advised the buyer on the deal, while Greenberg Traurig advised the seller in the transaction. International financial institutions – Erste Group Bank AG and HYPO NOE Landesbank (für Wien und Niederösterreich) – served as lenders in the transaction.
