ARTICLES LABELLED WITH TAG PRS

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.

The European Bank for Reconstruction and Development has issued a €100 million loan to the Polish subsidiaries of Vantage Development, a residential-for-rent developer and operator, ultimately owned by Germany’s TAG Immobilien.

Experts from Cushman & Wakefield note in their latest report that the residential sector in Poland is developing ESG strategies focused on environmental aspects. However, PRS and co-living investors are also undertaking community-oriented initiatives.

Jacek Wesołowski, Managing Director of Trei Real Estate Poland, has talked to Property Forum about the rising popularity of retail parks in Polish cities, the expansion in the PRS market and the challenges for the coming years.

In the first half of 2024, Echo Investment Group successfully implemented its growth strategy, continuing construction projects, selling nearly 900 apartments, and debuting in the private student housing segment. The Group's total assets at the end of June exceeded PLN 6.5 billion (ca. €1.5 billion) with cash reserves surpassing PLN 523 million (ca. €121 million).

Professional mobility, internal migration, issues related to adaptation in a new country, search for flexible housing solutions while waiting for better availability of mortgage loans - these are the current challenges for the rental market in Poland. Is the PRS sector responding to these new social phenomena, and how? Resi4Rent presented the results of its latest survey.

In 2024, the total investment volume in Poland amounted to €364 million, marking the weakest result for the first quarter in recent years. Interestingly, 25% of the invested capital comes from Polish investors. The warehouse sector remains the leader, accounting for 38% of the total investment volume. Unchanged, the vast majority of office transactions took place in Warsaw, while commercial investments were dominated by retail parks. Additionally, the market also saw two transactions in the residential sector in Warsaw, and two hotels were sold in seaside tourist cities, says Paulina Brzeszkiewicz-Kuczyńska, Research and Data Manager at Avison Young.

Tomasz Dąbrowski has been promoted to the position of Managing Director of Zeitgeist Asset Management in Poland. As of 1 April, he is responsible for the development of PRS products and the implementation of multi-phase mixed-use projects.

Van der Vorm Group, a Dutch investment fund, has completed the acquisition of 119 turnkey flats located on Siennicka Street in the Praga Południe district of Warsaw. The price has not been disclosed.

LivUp, a company operating in the Polish Private Rented Sector, has closed 2023 with a portfolio of over 750 residential units in Warsaw and Kraków. In the past year, the company entered a new market - and opened its first project in Kraków, moved its headquarters, and finalized a rebranding process. LivUp is not slowing down at all. In 2024, the company plans to introduce an additional project with 160 flats on the Warsaw market. The goal for the next three years is to increase the portfolio to 2,000 residential units.