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 funds received under the agreement will be used to finance a logistics center under construction in the town of Sochaczew, which is located about 50 km west of Warsaw. A total of 18 million euros are planned to be invested here. Of this, about 7 million euros have already been invested by the EIKA Real Estate Fund managed by EAM.
At the beginning of May, the building structures were already assembled, the roofing was halfway done, the installation of walls began, engineering networks were being laid, and other works were being carried out according to plan. Construction is scheduled to be completed this fall.
“After several months of negotiations, Santander Bank Polska showed confidence in the project we are implementing and offered the most competitive financing conditions. By the way, we have been working closely with this bank since our first investment in Poland,” says Andrius Uždavinys, CEO of EAM. “We are already known and visible in the Polish market, and we have successfully implemented several projects worth tens of millions. The trust of global financial institutions in EAM is also being increased by our partner, Panattoni, the largest logistics real estate developer in Europe. Last year, we signed an agreement with them, according to which Panattoni became responsible for the development and construction of this logistics building in Poland, and EAM coordinates the financing of the project.”
According to him, the decision to finance the facility was made because it is being developed in a very convenient logistics location, the land plot and construction work were purchased on good terms. In addition, half of the 28 thousand square meters of the building has already been leased by Pilkington Automotive Poland, a division of the world-famous United Kingdom multi-purpose glass manufacturing corporation.
“We have assembled a strong and experienced real estate team in our bank, which constantly monitors the market, looks for solutions and possible development opportunities. For several years now, modern logistics centers have been rapidly developing in Poland, especially in the Warsaw region, as the demand for such facilities is growing not only among local but also international businesses. Also, financing in the logistics sector is challenging these days, but experienced developers and investors such as EAM and Panattoni are successfully developing and staffing new logistics centers. EAM is also trusted by their targeted development in Poland, experience in the native Lithuanian market, and a professional team with whom we have to cooperate,” says Renata Grzonkowska, Head of Corporate Clients at Santander Bank Polska.
Santander Bank Polska is one of the largest financial groups in the world and the largest private equity bank in Poland with more than 7.5 million customers and about 11,400 employees. It is part of the international Santander Group, which operates in Europe, South and North America and Asia. Santander Bank was founded in 1857 in Santander, Spain, and its shares are traded on the stock exchange. In 2024, the bank’s turnover exceeded EUR 61.87 billion. Poland is the bank’s sixth largest market in the world by revenue.
Panattoni has been the largest logistics and industrial real estate developer in Europe for the eighth consecutive year. Over its 39 years of operation, the company has already developed more than 23.5 million square meters in the Old Continent and over 60 million square meters of buildings worldwide. Panattoni is currently developing another 3 million square meters of logistics and industrial buildings in Europe alone.
EAM is also implementing other projects in Poland. It is developing the first phase of a logistics warehouse complex near Modlin Airport, which is about 40 km from the center of Warsaw. In total, 117 thousand square meters of leasable area are planned to be built on 23 hectares of land, with an investment of over 70 million euros.