Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, March 14 with Winston Norman, Editor and Chief of EuropaProperty.com.
Poland’s PRS market attracted more than €1.8 billion in investment in 2022
According to the latest DLA Piper and Savills report on the PRS market in CEE. Poland’s PRS market attracted more than €1.8 billion in investment in 2022. Experts expect that high real estate prices and the declining availability of mortgages will generate increased demand for apartment rentals in the coming years, and thus attract new investors and investment to the market.
Poland is now recognised as the largest private rented sector market in CEE. Institutional investors in Poland currently offer more than 11,600 rental units, of which more than 40 percent are located in Warsaw.
“The shift in demand toward the rental market, combined with rising rents, is encouraging more PRS funds to enter,” says Kamil Kowa, Savills board member.
“Compared to Western Europe, Poland’s PRS market is still small, but growing rapidly,” says Jacek Kałużny, director in the residential capital markets department at Savills.
“Despite the macroeconomic turmoil and uncertain regulatory environment, we expect the institutional rental market to continue to grow rapidly in Poland,” adds Wojciech Sulimierski, associate in the real estate team at DLA Piper’s Warsaw office.
Mitiska forms strategic joint venture partnership with STORO
Mitiska REIM has announced a strategic joint venture partnership with Belgium-based self-storage company, STORO. The companies plan to roll out the STORO concept initially in Belgium and then across other European markets.
Self-storage is a growing and underserved segment of the real estate market. According to The Federation of European Self-Storage Associations (FEDESSA), the European self-storage market is still at an early stage of development compared to the UK and the US.
Bart Rabaey, Mitiska REIM’s Chief Investment Strategy Officer, comments: “Self-storage fits seamlessly into Mitiska REIM’s convenience real estate strategy which targets visible and accessible sites on urban infill locations.”
Lennert De bruyn, Co-founder and Managing Director of STORO, comments: “Mitiska REIM’s network and experience in real estate finance and strategy, combined with STORO’s customer-focused offering, creates a powerful combination to grow and expand the STORO concept.”
Construction starts on 7R City Park Gdańsk Airport I
7R has started construction of a new facility in Pomerania. 7R City Park Gdańsk Airport I will ultimately provide three halls with a total area of about 40,500 sqm. Pekabex is the general contractor for the project.
“Pomerania is one of the most rapidly developing regions in Poland. The Tri-City in particular has consistently attracted potential investors and new companies over the years,” emphasizes Marzena Taube, Regional Leasing Director at 7R.
Cushman & Wakefield to manage NREP’s warehouse portfolio
Cushman & Wakefield has been appointed by BIK S.A. to manage a property portfolio of four logistics parks. BIK is a Polish logistics developer owned by the investment fund NREP and supervised by Logicenters – the logistics platform of NREP. Cushman & Wakefield will provide asset management solutions including financial and accounting services and ESG strategy advisory.
“Ever since NREP established its presence on the Polish market, we have focused on growing our portfolio and further enhancing the quality of the buildings”, says Artur Kuliński, President of the Management Board of BIK S.A.
“The acquisition of BIK S.A.’s portfolio of four logistics assets takes the total amount of commercial property that Cushman & Wakefield manages in Poland to 3.7 million sqm”, comments Grzegorz Dyląg, Partner, Head of Asset Services Business Space, Asset Services EMEA, Cushman & Wakefield
