The Lett Markowska project in Warsaw's Praga Północ district, being developed as part of the housing platform by Nrep, has received financing of PLN 60 million (ca. €14 million) from Santander Bank Polska. The funds will be allocated to the development of the investment, which includes 179 rental apartments. This marks the first collaboration between Nrep and Santander Bank Polska.
“Santander Bank Polska's commitment to financing the Lett Markowska project is an important step for us in developing the rental housing offer in Poland. The support we have received enables us to create more modern, comfortable apartments in convenient, well-connected locations. Nrep's priority is not only to deliver high-quality units in line with sustainable development principles but also to build a supportive community that provides space for both work and relaxation. We thank Santander Bank Polska for their trust, which will contribute to expanding the housing options for the residents of Warsaw”, said Maciej Piotrowicz, Head of Nrep Poland.
Lett Markowska offers 179 apartments, including 83 two-bedroom units and 96 studio apartments, located in three buildings. Currently, 70% of these units have already been leased. For this investment located in Warsaw's Praga Północ district, as with other projects in Nrep's portfolio, minimizing its impact on the environment is a priority. Therefore, low-emission materials were used during construction, and the building is equipped with technologies that reduce CO2 emissions during operation. To achieve this, a hybrid heating node has been implemented, primarily heating the building and providing hot water using heat pumps, supported by energy from the heating system only during the coldest periods. Solar panels have been installed on the roof. The building has received a BREEAM certificate at the "Very Good" level. The investment was carried out through the NSF V fund managed by Nrep.
“The Private Rented Sector (PRS) market in Poland is beginning to develop. We see significant interest from investors in this product, as well as from tenants who are eager to take advantage of the available offerings – which highlights its immense potential. An important aspect of this market is the implementation of environmentally friendly and energy-efficient investments. To ensure stable growth in this segment, experienced and financially robust investors are needed. That is why Santander Bank Polska, as a leader in commercial real estate financing in Poland, actively supports the development of PRS. We are honoured that Nrep has chosen our bank as its partner for a new PRS project in Warsaw", said Brendan Long, Managing Director of the Commercial Real Estate Financing team at Santander Bank Polska.
All apartments offered through the Lett rental housing platform are fully furnished and equipped. Lett Markowska also offers underground parking, storage rooms, and a playground with a sandbox and slides. A new feature in this Lett location is the coworking area, where residents can enjoy modern workspaces equipped with ergonomic desks, fast Wi-Fi, and other essential amenities. Additionally, a relaxation zone is available in the coworking space. Rental apartments within the Lett platform in Warsaw are also available in Mokotów and Bemowo, in addition to Praga Północ.
