Poland continues to attract investors from across Europe, but the profile of that capital is changing. As regional players become more active and some Western institutions take a more cautious approach, new opportunities are emerging across a range of sectors. Speakers of the first panel at Future of Real Estate 2026, a conference organised in Warsaw, agreed that the country’s strong economic fundamentals remain intact, but unlocking the next wave of growth will require greater market liquidity, larger investment platforms and a deeper pool of domestic and regional capital.

A consortium of four banks has extended HB Reavis' long-term investment financing facility of €200 million for the Forest office campus in Warsaw. The agreement runs until the end of 2031 and was secured on terms.

Rising borrowing costs and a more uncertain economic outlook have undoubtedly changed the way real estate projects are financed, but market participants suggested that access to debt remains relatively healthy for the right opportunities. The focus has shifted from chasing growth to assessing resilience, with lenders placing greater emphasis on cash flow, sector fundamentals and sponsor quality. These themes dominated the financing discussion at Prague Property Forum 2026.

One United Properties has signed a €80.5 million term facility agreement with UniCredit Bank, with an option to increase the amount to €140 million.

Deutsche Pfandbriefbank (pbb) has jointly underwritten a €214 million investment facility to finance a portfolio of eight logistics properties located across the Czech Republic and Poland for EQT Real Estate. This financing was provided in partnership with Société Générale.

Faedra Group has concluded a financing agreement for the MyRA Park M3 retail development project, backed by OTP Bank and the Faedra II Real Estate Development Fund, managed by Faedra Alapkezelő.

GTC has signed a €148.8 million loan agreement with Berlin Hyp to refinance its German residential portfolio financing and support further capital expenditure in selected assets.

Crestyl Group and its subsidiary Spravia have signed a €165 million financing agreement with funds managed by Apollo Global Management. Griffin Capital Partners joined as a minority co-investor alongside Apollo funds.

EPP, Poland's largest retail asset manager, has secured a €323.9 million loan to refinance existing debt on its shopping centre portfolio. The financing covers four retail assets: King Cross Marcelin in Poznań, two assets in Szczecin (Galaxy and Outlet Park), and Pasaż Grunwaldzki in Wrocław.

Panattoni has secured €22.5 million financing from Bank Pekao for a build-to-suit project in Łódź for Zrew Transformatory. The funds will be used to build a power transformer manufacturing plant.