Cavatina Group S.A. has established a company that will be responsible for the construction and management of a portfolio of PRS projects located in the largest cities of Poland. Alongside Cavare S.A., the group includes Cavatina Holding S.A., a publicly traded company and one of the largest office developers in Poland, Resi Capital S.A., focusing on the residential sector, and CTank S.A., the entity responsible for land acquisition and comprehensive project preparation for the Group and external investors.
Cavare S.A. is a new entity that is 100% owned by Cavatina Group S.A. Over the course of 5 years, Cavare plans to build and make available for long-term rental up to 10,000 apartments in multiple cities in Poland.
"Over the past two years, Resi Capital S.A. has become highly specialized in the construction and sale of premium and popular segment apartments. Its projects in Katowice, Wrocław, and Łódź have attracted significant interest from buyers. However, Cavatina Group S.A. is not giving up on expanding its portfolio of PRS properties within our modern platform. Cavare already has secured land and projects in the rental apartment segment in major cities in Poland", says Daniel Draga, CEO of Cavatina Group S.A.
Bartłomiej Wentlandt will serve as the CEO, and Anna Łagowska-Cioch as the Vice President of Cavare S.A.
"The Polish institutional rental market is still young, and has significant growth potential, as evidenced by the high occupancy levels of existing projects. This is influenced by both changing lifestyles of successive generations and the macroeconomic situation. We have built expertise in preparing and implementing such investments and have a ready platform that allows for remote leasing processes, including reservation agreements. With the launch of the first projects, we aim to be ready by early 2024", says Bartłomiej Wentlandt, CEO of Cavare S.A.
At the same time, the authorities of Cavatina Group S.A. have decided to establish a separate company to handle the acquisition of land, analysis of their absorption capacity, design, and the necessary formalities for initiating construction work. CTank S.A. will operate on behalf of both the group's companies and potentially provide services to external entities.
