Summus Capital sells multifunctional stock-office business complex in Tallinn

Summus Capital, a leading Baltic commercial real estate investment company, has successfully completed the sale of its multifunctional business complex located at Punane Street in the Lasnamäe district of Tallinn.

The sale includes two adjoining commercial properties, Punane 56 and Punane 56b, which together form a well-situated business complex in one of Lasnamäe’s most active commercial areas, known for its dense population and strategic logistics position.

Acquired by Summus Capital in 2015, the Punane 56 complex features a versatile mix of stock-office, office, and retail spaces catering to specialized retail tenants. Notable tenants have included Clemco Baltic and Baltic Promotions, with the complex having consistently generated stable returns.

“The Punane multifunctional business complex, now more commonly known as a stock-office, has served us well for ten years. Located in one of Tallinn’s most densely populated areas, it consistently enjoyed strong demand. As an investment, it was an excellent cash cow, delivering annual returns exceeding 20% and achieving a money multiplier of nearly 3x upon exit,” said Hannes Pihl, Head of Investments and Board Member at Summus Capital.

“This transaction marks a natural next step in our strategy to optimize the portfolio and focus on larger, more modern assets. The divestment enables us to reallocate capital to higher-growth opportunities that align with our long-term vision,” added Pihl.

The proceeds from the sale will be directed toward new investments that support Summus Capital’s strategic growth, including the expansion of its footprint in both the Baltics and Poland.