The company managed by the EIKA Real Estate Fund of the investment management company EIKA Asset Management (EAM) has signed a financing agreement with Santander Bank Polska in Poland. The financing raised under the agreement will be used to finance a logistics centre to be built in the town of Sochaczew, approximately 50 km west of Warsaw. A total of EUR 18 million is to be invested, of which around EUR 7 million has already been invested by the EIKA Real Estate Fund managed by EAM.

As of the beginning of May, the building structures have been erected, the roof is halfway finished, the walls are beginning to be erected, the utilities are being installed and other works are progressing according to plan. Construction is expected to be completed this autumn.

Andrius Uždavinys, CEO of EAM:

After several months of negotiations, Santander Bank Polska showed the confidence in our ongoing project and offered the competitive financing conditions. Moreover, we have been working closely with this bank since our first investment in Poland. We are already well known and visible in the Polish market – we are successfully implementing several projects worth tens of millions of euros.  Our partner Panattoni, Europe’s largest developer of logistics real estate, is also building confidence in EAM among global financial institutions. Last year we signed an agreement with them whereby Panattoni will be responsible for the development and construction of this logistics building in Poland, while EAM will coordinate the financing of the project.

According to him, the fact that it is being developed in a very convenient logistical location, the land acquired on good terms, and the construction work is progressing well. In addition, half of the 28,000 square metre building has already been leased by Pilkington Automotive Poland, a division of the world-famous British multi-purpose glass manufacturer.

Renata Grzonkowska Corporate Client’s Director of Santander Bank Polska:

In Santander Bank we have strong and experienced real estate team that carefully observes the market, look for solutions and possible development areas. We respond responsibly to the changing needs of the market and support our customers. For several years now, modern logistics centres have been developing rapidly in Poland, especially in the Warsaw region, due to the growing demand for such facilities from both local and international companies. Although the leasing situation on the logistic market nowadays is challenging, experienced developers and investors like EAM and Panattoni are successfully developing and commercializing their new logistics centre. We appreciate EAM’s experience built up on the Lithuanian market and its current focus on Poland, and we are glad to be able to support them on our market.

Santander Bank Polska is one of the largest private bank in Poland, with more than 7,4 million customers and around 11,300 employees. It is part of the international Santander Group, which operates in 10 core markets in Europe and both Americas. Santander Bank was founded in 1857 in Santander, Spain, and its shares are traded on the stock exchange. Total revenue of Santander Bank Polska in 2024 amounted to PLN 17.1 billion.

Panattoni is Europe’s largest developer of logistics and industrial property in for the eighth consecutive year. Over the past 39 years, the company has developed more than 23.5 million square metres of buildings in Europe and more than 60 million square metres worldwide. Panattoni is currently developing a further 3 million square metres of logistics and industrial buildings in Europe alone.

EAM also has other projects in Poland. It is developing the first phase of a logistics warehouse complex near Modlin airport, about 40 km from the centre of Warsaw. A total of 117,000 square metres of lettable space will be built on a 23-hectare site, with an investment of more than EUR 70 million.