Summus Capital acquires Polish shopping centre

Baltic real estate investor Summus Capital has expanded its portfolio by acquiring the Libero Katowice shopping centre in Southern Poland for €103 mln. 

Libero Katowice shopping centre

This marks the largest single-asset retail transaction in Poland this year.
This is Summus Capital's second successful acquisition from Echo Investment in Poland, following last year's purchase of an office building in Łódź, which has generated positive cash flow. The newly acquired Libero Katowice boasts nearly 100% tenant occupancy, ensuring immediate strong returns for the company.
Libero Katowice is also recognized as one of Poland's highest BREEAM In-Use certified retail properties, showcasing a strong commitment to environmental sustainability. It features an advanced Building Management System (BMS) for energy efficiency, a heat pump-based heating system, rooftop solar panels for electricity generation, and an underground reservoir for rainwater harvesting. These green initiatives not only reduce operational costs and enhance the building's value but also improve visitors' overall comfort.
Hannes Pihl, Strategic Asset and Investment Management Partner at Summus Capital, said: “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. 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.” 
Following the acquisition of Libero, Summus Capital's real estate portfolio now comprises 14 properties across the Baltics and Poland, with Poland representing just over 35% of the total. This diversified portfolio, valued at €565 mln, includes retail, office, logistics, and medical properties.
For this deal, Penteris acted as the advisor for the buyer, Summus Capital, while Greenberg Traurig advised the seller. The transaction was financed by international financial institutions Erste Group Bank and Hypo Noe Landesbank.