Following a change to its investment model, the ORPEA Group – a European market leader in long-term care and rehabilitation – has decided to restructure its project portfolio in the largest Polish cities, which was built for its planned expansion. According to real estate advisory firm Savills, which has been instructed to search for investors, the portfolio comprises some of the most attractive development sites available in Poland.
“The decision to restructure our portfolio follows the change to the financial strategy of the ORPEA Group and will not affect our Care Homes and Rehabilitation Clinics in Poland. Their residents and patients may feel assured that we will continue to provide the highest service quality to best respond to the needs and requirements of the people we help every day,” says Beata Leszczyńska, President of ORPEA Polska.
Six projects at various development stages will be marketed – from sites with building permits through to senior housing facilities under construction. They are located in Warsaw, Gdansk, Poznań, Krakow, Łódź and Konstancin-Jeziorna. The central locations and zoning status of most of them also allow for the development of PRS, office or PBSA projects.
“The development projects, which the ORPEA Groups has decided to market, are in prime locations. We have teamed up with the owner to look for investors interested in purchasing both the entire portfolio and single assets. The plots were acquired for senior housing projects with a potential of up 1,000 beds, but they also allow for other commercial uses, including residential. Valid building permits are an additional advantage as they can significantly expedite the development process,” says Jacek Kałużny, Associate Director, Residential Capital Markets, Savills Poland.
Savills, an adviser to ORPEA Polska on the process, has a strong track record in alternative real estate including PRS, PBSA and senior housing.