Echo Investment has signed a conditional sale agreement for the React office building in the center of Lodz to Estonian investor Summus Capital. The transaction is valued at EUR 32.5 million.
Closing of the transaction remains subject to the City of Lodz not exercising its pre-emption right.
Summus Capital is a holding group established to invest in commercial real estate across the Baltics, which has begun expanding its portfolio, which includes retail, office, logistics, and medical properties, to other CEE countries.
The React office building, located in the Srodmiescie district of Lodz, has a total of 15,000 square meters of gross leasable area, spread across seven above-ground floors. It is fully leased to tenants including Alorica Inc., Bank Pekao S.A. Group, and the Enel-Med Medical Center.
“Congratulations to Echo Investment on the successful completion of their first transaction with Summus Capital,” said Kamil Majewski, Local Partner in the Warsaw office of the Greenberg Traurig, which advised Echo Investment on the deal. “We are pleased to have been able to support our valuable client on this deal, which underscores the investor interest in well-located office buildings within the regional market.”