Matexi Polska and Aurec Capital Poland signed an agreement concerning the conclusion of one of the largest transactions on the Polish market: the developer sold the entire residential building as an asset on the PRS market. The subject of the transaction worth over PLN 100 million is the investment “Puławska 186”. In accordance with previous assumptions, the whole transaction is carried out in a forward funding structure, which means that the buyer of the property is at the same time the party financing the investment process, while the whole project from the developer’s side will be conducted until its completion by Matexi Polska.
The parties agreed on the date of completion of the investment at the turn of 2021/22. The buyer of the building is Aurec Capital Poland, a company operating in Poland for over 10 years (the investment will be part of its PRS portfolio – LivUp – a long-term rental brand with a wide range of additional services). Aurec Capital group is one of the world’s leading investment groups and conducts diversified activity in various sectors. Apart from the real estate segment, in which it has extensive experience also on the Polish market, the Company invests and operates in: infrastructure, venture capital, private equity and more. On the legal side of the transaction, Matexi Polska was represented by Baker & McKenzie, while Aurec Capital Poland Group was represented by Dentons Europe Dąbrowski & Partners. The agent leading the transaction was JLL. The general contractor of the building is Unibep.
As previously announced, Matexi Polska continues to be active in the PRS segment. The sale of the “Pulawska 186” project to Aurec Capital Poland is another transaction carried out by Matexi Polska on this market after the pioneering investment “Apartamenty Pereca” sold to a fund from the Catella Group.
“We are extremely satisfied with the next transaction in the Private Rental Sector, “Puławska 186” is a truly unique development project. We have put a lot of work into it, we have also used our previous experience, preparing the investment from the beginning in terms of attractiveness in the PRS segment. I also think that we managed to create a project of an interesting building, which will become one of the recognizable, architectural showpieces of Warsaw’s Mokotów district. At the same time, we are very pleased with our partnership with Aurec Group, I am convinced that the acquisition of the project “Puławska 186” will prove to be an excellent, long-term investment for our partners,” says Monika Perekitko, Business Manager at Matexi Poland.
“This transaction proves our growing activity on the Polish real estate market. At the same time, it strengthens Aurec Capital’s position as one of the leading investors and operators on the Warsaw residential market. It is also another step in building a new, higher quality of the rental market in Poland,” says Roee Shamir, Managing Director of Aurec Capital Poland.