Heimstaden is to buy a newly-built residential portfolio with 2,496 homes in Poland for €305 million from the Polish residential development company, Budimex.
The portfolio is located in five of the largest cities in Poland: Warsaw, Krakow, Wroclaw, Poznan and Gdansk, economic hubs in their regions, encompassing Poland’s most populated and prosperous areas.
“This expansion will strengthen our presence and make us a leading provider of rental housing in Poland. It also enables the establishment of an efficient management platform that will provide Friendly Homes to our Polish customers for years to come,” said Stanislav Kubáček, Senior Managing Director of Heimstaden’s Investment Team for CEE and Germany.
The portfolio consists of 13 projects to develop 2,496 apartments (131,806 sqm).