Penteris Advises Summus Capital on Acquisition of React from Echo Investment

Penteris is proud to have advised Summus Capital on its acquisition of the React office building in Łódź from Echo Investment Group. The conditional sale agreement was finalized for a transaction value of EUR 32.5 million.

This transaction marks a significant milestone for Summus Capital, an Estonian-based investment company, as it expands its portfolio into Poland, demonstrating confidence in the Łódź market and its growth potential.

Summus Capital purchased the React office building from Echo Investment Group which is located at building at 24 Piłsudskiego Avenue in Łódź. Upon conclusion of the deal, the React building will be acquired by Summus Capital, an Estonian-based investment company.

“My thanks go to Summus Capital for putting their trust in us. Hats off to our team for doing such a great job: Justyna Jóźwiak, Ewa Olszewska, Head of Tax Piotr Prokocki, and Head of Banking & Finance Katarzyna Sawa-Rybaczek,” said Penteris Managing Partner Agnieszka Pytlas.

React is an office building in central Łódź that offers more than 15,000 sqm of comfortable workspace. It is fully leased to many reputable tenants such as Alorica Inc. and Bank Pekao S.A. Group, as well as Enel-Med medical centre. React uses energy-saving solutions, optimized lighting and non-toxic materials that have been recognised with a BREEAM certificate at the Excellent level. It is also certified with WELL Health and Safety rating.

“We are thrilled to enter a new market in Łódź with the purchase of the React office building. The excellent quality of the asset, its strong tenant base with long-term leases, high ESG compliance, and the seller’s proven track record were key factors in our decision to invest in this development. In our opinion, the project’s returns outweigh the risks associated with both the region and the property, offering sustainable growth. It is well-suited for one of our first investments in Poland,” said Hannes Pihl, board member of Summus Capital and managing partner of Zenith Family Office, the strategic asset and investment management partner of Summus.

“The successful divestment of React proves that office projects in great locations with exceptional ESG credentials and a guarantee of good revenues continue to attract reputable international investors. The deal with Summus Capital also confirms the lasting potential of our fully leased office developments in Polish regional markets,” says Judyta Sawicka, Head of Investment and Divestment at Echo Investment Group. CBRE Poland and Greenberg Traurig Poland advised the seller in the transaction.

Summus Capital is a real estate investment holding group established to invest in commercial real estate across all three Baltic countries and has decided to expand its portfolio to other CEE countries. The well-diversified portfolio includes retail, office, logistics, and medical properties.

We are proud to see assist in the expansion of Summus Capital in the region.