Echo Investment has signed a final sales agreement for Libero – a shopping centre in Katowice. The building was acquired by Summus Capital, an Estonian-based investment company. The transaction value is EUR 103 million.

Libero Katowice offers 45,000 sqm of GLA with over 150 stores, diverse restaurants, cafes, fitness centre, bowling alley and a cinema. Designed by MOFO Architekci and completed in 2018 the shopping centre is almost 100% leased and attracts approx. 6 million visitors annually. The centre located in the capital city of Silesia region and regularly hosts promotional campaigns, cultural and family events, and educational initiatives. The centre continually expands its range of amenities and attractions, adapting its space to the evolving needs of its customers.

– The deal is already the second successful transaction between Echo Investment and Summus Capital since the sale of Łódź-based React office building last year. It confirms that we have created a thriving retail asset that stands out with its attractive tenant mix, strong footfall performance and growing turnover. The sale of Libero Katowice is yet another step in our growth strategy of divesting mature projects while continuing to focus on new investments and the interests of our stakeholders – said Rafal Mazurczak, COO of Echo Investment.

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. Following the Libero transaction, the total portfolio value exceeds EUR 565 million, with Poland accounting for slightly over 35% of it. The well-diversified portfolio includes retail, office, logistics, and medical properties. Scope Ratings GmbH has affirmed its BB/Stable issuer rating for Summus Capital.

– 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 – adds Hannes Pihl, board member of Summus Capital and managing partner of Zenith Family Office, the strategic asset and investment management partner of Summus.

Libero Katowice is one of the highest BREEAM In-Use certified retail buildings in Poland. The shopping centre consistently invests in environmentally friendly solutions – from the renovation and improvements of the building management system (BMS), the heating system based on heat pumps, electricity from solar panels located on its roof, to the use of rainwater from an underground retention reservoir. Each of these elements contributes towards lower operating costs, increases the building's investment value, and ensures customer comfort.

Greenberg Traurig acted as legal counsel to the seller, while Penteris advised the buyer. International financial institutions – Erste Group Bank AG and HYPO NOE Landesbank (für Wien und Niederösterreich) – served as senior lenders in the transaction.