Summus Capital OÜ reports portfolio size increase +77% to 345 mln eur

12:01 20.05.2021

Press release

Baltic real estate investment holding group Summus Capital OÜ grew its real estate investment portfolio last year from 194 mln to 345 mln eur.

As of 1st quarter 2021, Summus Capital portfolio consists of 11 projects in Estonia (De La Gardie, Veerenni 1, Veerenni 2, Auriga, Punane 56, warehouse properties), Latvia (Riga Plaza) and Lithuania (Park Town East Hill, Park Town West Hill, Nordika, BOD Group High Technology Centre) with total net leasable area of 182 650 m2 and around 350 tenants.  Portfolio weighted average unexpired lease term was 7.7 years and loan-to-value ratio 55%. Summus Capital portfolio size is 345 mln eur. The company’s consolidated annual profit for 2020 increased to 22.7 mln eur. Revenue increased ca +15% to 17.7 mln eur.

According to Boris Skvortsov, Chairman of the Supervisory Board of Summus Capital, the company sees future in sustainable buildings and value-add investments. The company sees opportunities in the Baltic market and plans to invest its free cash flow in new projects, added Skvortsov. Investments are being supported by additional sources of financing, like bank credit and bonds.

Summus Capital OÜ is a real estate investment holding group established in 2013 and has investments in the Baltics. Well diversified commercial real estate portfolio includes properties in retail, office, logistics and medical segments. Hannes Pihl, member of Summus Capital Management Board, explains that Summus Capital investment strategy is based on cash flow generating commercial real estate with long term focus and strong tenant base. Property selection criteria foresees that share of any sector should not significantly exceed 50% of the portfolio, share of anchors in the portfolio’s cash flow should be at least 50% and minimum investment size is 10 MEUR.

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