Echo Investment has sold the Libero shopping center in Katowice to Estonian-based investment company Summus Capital in a transaction valued at EUR 103 million.
The deal, described by Echo Investment as the “largest single-asset retail transaction of the year in Poland,” follows Summis Capital’s acquisition of the React Office Building in Lodz from Echo (as reported by CEE Real Estate Matters on November 29, 2024).
Libero Katowice offers 45,000 square meters of gross leasable area with over 150 stores, diverse restaurants, cafes, a fitness center, a bowling alley, and a cinema. Designed by MOFO Architekci and completed in 2018, the shopping centre is almost 100% leased and attracts approximately 6 million visitors annually. The center is located in the capital city of the Silesia region.
“The deal is already the second successful transaction between Echo Investment and Summus Capital since the sale of Lodz-based React office building last year,” commented Echo Investment COO Rafal Mazurczak. “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.
“Libero Katowice is a strong and well-positioned retail asset with well-known tenants and long-term potential,” added Summus Capital Board Member Hannes Pihl. “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.”
Erste Group Bank AG and HYPO NOE Landesbank served as senior lenders in the transaction. Greenberg Traurig acted as legal counsel to the seller, while Penteris advised the buyer.
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