Heimstaden Bostad and Eiffage Immobilier Polska have joined forces to develop approximately 640 build to rent units across two sites in Warsaw. Savills advised on and brokered both deals. The agreed purchase price amounts to approximately €65m.
The first asset is located in Mokotow, one of the most affluent residential districts in Poland’s capital. Consisting of a total residential area of over 15,000m², it is due for delivery in Q1 2023. It will also feature a supermarket and a gym for residents and the local community. The second building, located in the Praga Polnoc area, is due for completion in Q1 2022 and will have a total residential area of over 8,000m².
Kamil Kowa, Director, Savills Poland Board Member, said: “We are delighted to have advised Eiffage Immobilier Polska in this landmark transaction, and would like to congratulate Heimstaden Bostad on their first acquisition in Poland. An increasing population, affordability constraints and changes in attitude in Poland towards renting are underpinning the continued growth of the sector.”
Aurelio Di Napoli, Director, Savills Operational Capital Markets, commented: "With the residential market proving to be one of the most resilient sectors during the Covid-19 pandemic and Poland having a severe housing shortage, this is a landmark agreement for the developing build to rent sector in Poland and for Central and Eastern Europe.”
