Santander helps Lithuanian fund build a warehouse in Poland

EIKA Asset Management is building a logistics center in Sochaczew for 18 million euros. The investment is supported by Santander Bank Polska. Half of the facility's area is already leased. Construction is scheduled to be completed in the autumn.

A company managed by the real estate fund EIKA Real Estate Fund, belonging to the investment management firm EIKA Asset Management (EAM), has signed a financing agreement with Santander Bank Polska in Poland. The funds obtained under the agreement will be used to finance the construction of a logistics center in the town of Sochaczew, about 50 km west of Warsaw. A total of 18 million euros will be invested, of which approximately 7 million euros has already been invested by the EIKA Real Estate Fund managed by EAM.

At the beginning of May, the building's structure was erected, the roof is half finished, walls are starting to be built, utilities are being installed, and other works are proceeding according to plan. Construction is scheduled to be completed in the autumn of this year.

- After several months of negotiations, Santander Bank Polska showed confidence in our current project and offered competitive financing terms. Furthermore, we have been working closely with this bank since our first investment in Poland. We are already well-known and visible on the Polish market – we are successfully implementing several projects worth tens of millions of euros. Our partner Panattoni, the largest logistics real estate developer in Europe, is also building trust in EAM among global financial institutions. Last year, we signed an agreement under which Panattoni will be responsible for the development and construction of this logistics facility in Poland, and EAM will coordinate the project's financing - explains Andrius Uždavinys, CEO of EAM.

According to him, the fact that the facility is being built in a very convenient logistics location, the land was acquired on favorable terms, and construction work is proceeding according to plan. Furthermore, half of the 28,000 sqm of space has already been leased by Pilkington Automotive Poland, a branch of the world-renowned British manufacturer of multifunctional glass.

- At Santander Bank, we have a strong and experienced real estate team that closely monitors the market, looks for solutions and possible areas for development. We respond responsibly to the changing needs of the market and support our clients. For several years now, modern logistics centers have been developing rapidly in Poland, and especially in the Warsaw region, due to the growing demand for such facilities from both local and international companies. Although the situation in the logistics market is currently difficult, experienced developers and investors, such as EAM and Panattoni, are successfully implementing and commercializing their new logistics centers. We appreciate the experience EAM has gained in the Lithuanian market and its current interest in Poland, and we are happy to support this company in our market - explains Renata Grzonkowska, Director of Corporate Clients at Santander Bank Polska.

Santander Bank Polska is one of the largest private banks in Poland, serving over 7.4 million clients and employing approximately 11,300 people. It belongs to the international Santander group, which operates in 10 major markets in Europe and the Americas. Santander Bank was founded in 1857 in Santander, Spain, and its shares are listed on the stock exchange. The total revenue of Santander Bank Polska in 2024 amounted to 17.1 billion PLN.

Panattoni has been the largest logistics and industrial real estate developer in Europe for the eighth consecutive year. Over the last 39 years, the company has completed projects with a total area of over 23.5 million sqm in Europe and over 60 million sqm worldwide. Currently, Panattoni is implementing further projects with a total area of 3 million sqm in Europe alone.

EAM is also implementing other projects in Poland. The company is building the first phase of a logistics warehouse complex near Modlin Airport, about 40 km from the center of Warsaw. A total of 117,000 sqm of leasable area will be built on a 23-hectare site, and the investment will cost over 70 million euros.