Futureal Investment Partners, a division of Futureal Group, and 1 Asset Management, an investment management firm supported by real estate development company Hanner, have announced the successful transaction involving the division and sale of two buildings within Lipowy Office Park situated at Żwirki I Wigury St. in Warsaw, Poland.
The purchaser, CEE Student Housing Fund, overseen by 1 Asset Management, aims to transform the property into a contemporary co-living and Purpose-Built Student Accommodation (PBSA) facility catering to students and young professionals. This signifies an exciting new phase for the building and the local community.
“We are delighted to have finalized a transaction that brings mutual benefits to both parties,” said Karol Pilniewicz, CEO of Futureal Investment Partners. “The vision of converting a portion of the Lipowy project into student housing perfectly aligns with the shifting market demands. This deal underscores our commitment to intricate transactions. Futureal Investment Partners actively seeks new, value-added, and opportunistic investment prospects across the office, retail, and logistics sectors,” Pilniewicz added.
“This marks our second ‘SHED Living’ location in Warsaw. This acquisition fits seamlessly with our strategy of cultivating a robust portfolio of modern and sustainable PBSA offerings in the most dynamic academic cities in Poland and throughout the CEE region. It exemplifies a redevelopment endeavor, wherein the former 21,000 sqm of office space will be transformed into a contemporary rental living space comprising over 650 units, undoubtedly revitalizing the surrounding area. The scarcity of affordable and modern housing in Warsaw, fueled by an existing undersupply and a continually expanding demand from the younger demographic, underscores the significance of this venture,” remarked Matas Mockeliunas, a fund partner at 1 Asset Management.
“Investing in such projects aligns with our strategic growth focus – to place greater emphasis on real estate ventures in Central and Southern European territories. Given the substantially unmet demand for student housing in Poland, we perceive numerous opportunities within this sector,” commented Arvydas Avulis, chairman of Hanner’s board.