Linklaters has advised Resi4Rent on the acquisition of an apartment building from Echo Investment for the purposes of long-term rental. The building, located at Rychtalska Street in the northern part of Wrocław, comprises over 300 small- and medium-sized apartments.
The Rychtalska project is the first completed building of Resi4Rent. Echo Investment has also completed the second construction at Wodna Str. in Łódź which shall be shortly transferred to Resi4Rent. The Platform jointly with Echo Investment has six projects under construction in Warsaw, Poznań, Gdańsk and Wrocław with 2,300 units in total and further four in the predevelopment stage. The Platform’s target is to build ca. 7,500 apartments by 2023.
Resi4Rent is a joint-venture project between R4R Sarl, an entity controlled by a fund managed by one of the leading investment management companies in the world, and Echo Investment, the largest Polish developer. The company has been established for the purpose of operational management and rental of ready-made apartments.
The financing of the construction was provided by a consortium led by Bank Pekao.
The Linklaters advisory team featured Tomasz Trystuła (Senior Associate), Weronika Guerquin (Counsel) and Filip Witaszek (Junior Associate) from the Warsaw Real Estate practice, as well as Joanna Gawlicka (Managing Associate) and Marcin Nowak (Associate) from the Warsaw Banking practice.