Summus sells two warehouses to Giga Investeeringud for more than €6 million

Summus Capital has sold two warehouse and logistics properties located in Saku and Saue municipalities, along one of Tallinn’s key logistics access corridors, to Giga Investeeringud in a portfolio transaction for slightly more than €6 million. The properties’ long-term tenants are Stora Enso Packaging and Mediq Eesti.

Both companies have occupied the respective properties since they were completed.

“These two warehouses were among Summus’ first transactions and have served both us and our tenants well for nearly a decade. The tenants have recently renewed their leases, so we are pleased that Giga Investeeringud has become the new owner. As a private investor, Giga is a landlord with a similar hands-on approach to ours, which gives us confidence that the properties and tenants will continue to be well looked after,” said Hannes Pihl, Member of the Management Board and Head of Investments at Summus Capital.

The sale of the properties is part of Summus Capital’s investment strategy, under which the company is focusing on larger and newer investments in the Baltics and Poland. The capital released from the transaction will enable Summus to continue exploring new investment opportunities and growing its portfolio in its core markets.