Summus Capital OÜ, a real estate investment group rapidly expanding from the Baltics to Poland, acquires The Park Krakow office complex.

Located in Krakow’s Podgórze district, Park Krakow consists of two newly built office buildings with a total gross leasable area of 24,702 square metres, which covers more than 3 football fields in size.

Summus acquired Park Krakow at a value of EUR 48 million. The office complex is leased to a diversified tenant base, including leading Polish sportswear brand 4F, outdoor recruitment agency AMS, one of Poland’s largest energy companies Tauron, and insurance group WARTA. The property’s weighted average unexpired lease term (WAULT) stands at slightly over 6 years.

“This transaction significantly strengthens our Polish office portfolio, adding tenants with a strong focus on the local Polish market. With this acquisition, we continue our strategy in this segment of acquiring prime assets with prime tenants in well-connected locations close to central business districts, delivering higher yields. The area is rapidly developing, highly visible and easily accessible by all modes of transport,” commented Hannes Pihl, Head of Investments and Member of the Management Board of Summus Capital.

The acquisition of Park Krakow increases Poland’s share in Summus Capital portfolio from 38% to approximately 43%, with the Group’s total real estate portfolio market value reaching EUR 630 million. Developed by White Star Real Estate, Park Krakow has been awarded an Excellent certification in BREEAM. The property includes environmentally friendly and energyefficient solutions such as rooftop solar panels and electric vehicle charging stations in the underground parking area.

Penteris advised the buyer on the deal, while Clyde&Co advised the seller in the transaction. Erste Group Bank AG served as the lender in the transaction with the support of Schönherr Warsaw. Summus Capital OÜ is a real estate investment holding group established in 2013 with investments in commercial real estate in Estonia, Latvia, Lithuania and Poland. Direct real estate investments are made through daughter companies of the respective country
of location. Well-diversified commercial real estate portfolio includes properties in retail, office, industrial/logistics and medical segments.