Summus Capital, one of the leading real estate investment companies in the Baltics and Poland, has sold two commercial properties in Estonia and Latvia to INDEXO Real Estate Fund AS, a fund managed by Provendi asset management AIFP. The portfolio includes Auriga, the largest shopping centre in Saaremaa and Damme, a key retail destination in Riga’s Imanta district.
The transaction marks a strategic step for Summus Capital as it continues to optimize and strengthen its investment portfolio. The assets have provided the company with stable, long-term income and strong value appreciation. Proceeds from the sale will be reinvested into larger properties with higher growth potential, supporting Summus Capital’s ongoing expansion in the Baltic and Polish real estate markets.
“This transaction allows us to realize the value created through stable-performing investments and reallocate capital toward new growth opportunities,” said Hannes Pihl, Head of Investments and Member of the Management Board at Summus Capital. “We are grateful to our long-term tenants and partners for their cooperation in the Auriga and Damme projects. This sale represents the next stage in building an even stronger and more modern portfolio for Summus Capital.”
INDEXO Real Estate Fund AS, managed by Provendi Asset Management AIFP SIA under the supervision of the Latvian financial regulator, invests in high-quality real estate assets across the Baltic States. The fund’s diversified portfolio includes residential, commercial, logistics, office, and retail properties.
“We are pleased to acquire this well-performing portfolio of established retail properties, which aligns perfectly with our strategy of building a diversified, income-generating real estate fund,” said K.Berzins, CEO of Provendi asset management.
