Summus Capital OÜ signs an investment management agreement with Green Formula Capital OÜ
Summus Capital OÜ Company Announcement
Summus Capital OÜ, an Estonia-based real estate investment holding, is engaging a new investment management partner for its whole portfolio. The new partner of Summus Capital is Green Formula Capital OÜ, a manager with a strong focus on green real estate concept. The management board of Summus Capital will stay in place.
Green Formula Capital developed tailor-made sustainability principles for Summus Capital, stating that the essential mission is not only to focus on acquisitions of “green assets”, but also to turn existing buildings into modern, prime and flagship assets, that in result will significantly decrease ecological footprint and increase assets value. Summus Capital and Green Formula Capital have agreed on the long-term goals with the ambition to improve real-estate portfolio energy efficiency, decrease environmental impact and CO2 footprint, among other goals. Sustainability targets and program include all aspects of ESG – Environmental, Social and Governance i.e. also including actions related to tenants, partners, subcontractors and investors.
Following ESG principles in the long term, Summus Capital and its partners will benefit as follows:
- Increase of each asset value and accordingly total portfolio value
- Increase of portfolio liquidity
- Energy efficiency and lower cost for landlord and for tenants
- Increase of attractiveness for tenants, especially for international tenants
- Lower financing costs and better financing terms
- Better performance and longer life cycle of assets
The leading partners of Green Formula Capital are Meelis Šokman and Hannes Pihl. Green Formula Capital believes that the best way to increase investments value is to manage business in a green and sustainable way, and is working with investors who share the belief in a better world. More info: https://greenformula.ee.
About Summus Capital
Summus Capital OÜ is an Estonia-based real estate investment holding which currently owns 11 properties across the 3 Baltic countries with an asset value of more than EUR 375 million. While the group was incorporated in 2015, its founders made their first investments already in 2013. Summus Capital has a well-diversified portfolio of cash-flow generating commercial real estate properties in the retail, office, logistics and medical segments. In September 2021, the international rating agency Scope assigned a first-time issuer rating of BB/Stable to Summus Capital, making it the first Baltic company to obtain a Scope rating and in October 2021 bonds issued by Summus Capital have been admitted to trading on the Nasdaq Baltic First North market by Nasdaq Riga. Read more at summus.ee.
Tel.: +372 578 78078