Poland Summus finalises transaction in Łódź

Investment & finance

18 December 2024

Opr./edited by ANZ

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Summus Capital has closed the acquisition of the React office building in the centre of Łódź. The property, valued at €32.5 mln, comprises more than 15,000 sqm of office space.

The conditional sale agreement for the React office building was signed on 27 November 2024. All conditions agreed by both the buyer, Summus Capital, and the seller, Echo Investment, have been met, completing the transaction.

The property is fully occupied by reputable tenants under long-term contracts with an average term of nearly seven years. This guarantees both stability and a steady revenue stream. The React office building is an environmentally sustainable project with both a BREEAM Excellent certificate and a WELL health safety rating, making it an excellent investment from Summus Capital's point of view.
With this acquisition, Summus Capital takes another step in its expansion in Poland. The finalisation of the agreement to acquire the Lakeside office building was also recently announced.

With the closing of the previously agreed acquisition of the React office building, Summus Capital has reached a significant milestone, amassing a commercial property portfolio on the Vistula with a total value of EUR 100 mln. We reaffirm our presence on the Polish market and intend to stay there. We strongly believe in office building concepts that, in addition to being in line with the EU taxonomy, have been chosen by tenants after the recent crises, which proves the long-term sustainability of such projects.
Hannes Pihl, board member of Summus Capital and managing partner of Zenith Family Office

The financing during the transaction was provided by Hypo Noe Landesbank für Niederösterreich und Wien, represented by Thomas Milunovic. Advisory services throughout the acquisition process were provided by the law firm Penteris (on the borrower side) and the law firm CMS Polska - on the lender side.

Summus Capital is a real estate investment holding company founded in 2013. The group has a portfolio of 14 properties in the three Baltic States, which includes buildings in the retail, office, logistics and medical sectors with a total leasable area of more than 218,000 sqm and a value of approx. EUR 400 mln.

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