News Article Cavatina Holding expansion investment living Poland residential
by Property Forum | Investment

Cavatina Group starts Cavatina International and plans to expand its portfolio of the living sector’s projects not only in Poland but also in foreign markets. Jason Drennan, a manager with more than 20 years of investment experience in Europe and the US, and more than 15 years connected with the real estate market will be responsible for the new platform development. First, together with leading international institutional investors, the company intends to expand its current portfolio of apartments for rent created under the Resi Capital brand from 2,000 to 10,000 units, focusing on environmentally certified projects.

Investment in the commercial real estate market seems to be resisting any turbulence in the global economy. Investor confidence in the fundamentals of the region's commercial real estate market remains strong after Q1 2022 in EMEA, with ready-to-invest capital values once again approaching 2019 levels, according to data from Colliers. And while the warehouse sector has played a major role in the last two pandemic years, the residential market is also attracting strong interest with the rise of its popularity in many regions, such as CEE.

Cavatina Group, a Polish capital group, has so far successfully established two solid pillars of its business: the largest Polish office developer specializing in large projects, most often being a part of mixed-use complexes – Cavatina Holding, and Resi Capital, building a portfolio of well-located, high standard residential facilities. Currently, the group's ambition is to continue its dynamic growth through portfolio development and entering new markets with residential projects, using the experience gained so far in the Polish market. This is also supported by the trend of the growing importance of sustainable residential and mixed-use projects in evolving metropolises looking for an idea for responsible development.

We have the know-how and competence from A to Z to create attractive projects of outstanding quality and form in the real estate market. This is confirmed both by the financial results of Cavatina Holding S.A., a listed company focusing on the office market, in which Cavatina Group holds a majority stake and by the very good reception by the market of our concept of a platform of apartments for rent currently under construction. We see great potential in expanding our Group's portfolio with new residential investments. We are pleased to entrust the task to develop an agile structure to Jason, who is well acquainted with the realities of both Polish and international real estate markets, and who was responsible for the development of Heimstaden investment in Poland for the last two years”, says Karol Stefański, board member of Cavatina Group.

Sustainable living and opening to foreign markets

Currently, within Cavatina Group, Resi Capital operates five projects, two of which are already under construction, and will deliver a total of over 2,000 rental apartments in Wroclaw, Krakow, Lodz, and Katowice over the next 2 years. Additional projects in key Polish cities are also already secured. They will be financed in cooperation with new investors and will be managed as part of the emerging investment platform.

I am very excited to join the Cavatina Group. I will concentrate on expanding Cavatina Group’s funding and asset base by creating new investment platforms. My focus is to create optimised and efficient designs to be the best in class in ESG and energy efficiency ratings and offer Resi Capital housing in all major cities in Poland to students, young professionals and couples, active seniors and those who currently can’t afford or do not want to buy. I will also be responsible for entry transactions in foreign markets”, says Jason Drennan, CEO of Cavatina International.

Cavatina International will be responsible, among others, for the acquisition of attractive land, design, and preparation of investments, as well as finding joint venture partners for their implementation.

The real estate market is associated with long-term planning because of the project life cycle. However, in today's dynamic macroeconomic and geopolitical environment, there is a need for flexibility and quick decision making, sometimes very bold. This is exactly how Cavatina Group works, thanks to which I feel that together we can create something unique. Investors are looking for good proposals to invest their capital in, and with the support and competence built within the other structures of the Group, we are able to prepare for them proposals not to be rejected”, adds Jason Drennan, CEO of Cavatina International.

Jason Drennan studied finance and business at Dublin City University, and his business career started as a financial regulator with the Central Bank of Ireland before moving into stockbroking and corporate finance for over 10 years. During this time, he became focused on the real estate sector and has since been involved for over 15 years in multiple sectors (retail/office/residential/hotel) and jurisdictions (Europe/US) with experience as an advisor and investor. For the last two years, he has been based in Warsaw and was Investment Director for Heimstaden, responsible for its investments in Poland.