Catella European Residential Sells Fully-let Residential and Student Housing Properties in Warsaw and Krakow for more than €60 mln

Catella entered the Polish residential market in 2016 with the acquisition in Warsaw, followed by the purchase of “Trio Kraków” in Krakow in 2017. With 38 million inhabitants, Poland is the largest market in Central and Eastern Europe and faces a shortage of between 1.5 to 3 million rental apartments. Poland’s purpose-built student accommodation (PBSA) market is also very attractive for investors as the country has some 1.2 million students and very few institutional student dormitories.

Benjamin Rüther, Head of Fund Management at CRIM, said: “The Polish residential market is predominantly (around 80%) an owner-occupier market, but is shifting to a rental market, which will offer attractive investment opportunities for years to come. Both “Pereca 11” in Warsaw and “Trio Kraków” are fully let and are outperforming our business plans. After having achieved very attractive returns for our investors in recent years with both these properties, we now intend to focus on new investment opportunities." 

“Pereca 11” in Warsaw

This residential property is located in the centre of Warsaw, the capital and most densely populated city in Poland with 1.9 million inhabitants and a greater metropolitan area of 3.1 million. The complex at 11 Icchaka Lejba Pereca Street in the Wola District, is very centrally located, situated within Warsaw’s CBD and well connected to public transport. Pereca 11 comprises 193 apartments of varying sizes, including studios as well as one-, two- and three-bedroom apartments. Most of them also feature a balcony.

“Trio” in Krakow

The “Trio” project in Krakow, the second largest city in Poland, contains 139 student residences, 152 apartments and a car park which can accommodate 155 vehicles. It is located opposite to Cracow University’s economics faculty, within walking distance of the old city centre and central station. The complex was completed in December 2019.

Clifford Chance acted as legal advisor on both sales.

About Catella Residential Investment Management GmbH (CRIM)

Catella launched its first European residential fund in 2007 and its first dedicated European Student Housing Fund in 2013. CRIM is a subsidiary of the Stockholm-based Catella AB Group, and its residential real estate business comprises portfolio management, acquisitions, sales and asset management. CRIM manages and advises several funds and mandates and has assets under management of more than €7 billion across 11 European countries.

For more information:

Catella Residential Investment Management GmbH

Stine Zöchling

Head of Marketing and PR European Residential

Office: +49 (0)30 887 285 29 76

Mobile: +49 (0)151 544 51 005

stine.zoechling@catella-residential.com

Disclaimer: This is a marketing release. It is for information purposes only and does not constitute investment advice, an investment recommendation, an offer or an invitation to buy or sell investment products. The information is not suitable for making a concrete investment decision on its basis. It does not contain any legal or tax advice. The provision of the information does not create any contractual obligation or any other liability towards the recipient or third parties. Shares may only be purchased on the basis of the currently valid Terms and Conditions of Investment in conjunction with the currently valid Sales Prospectus. The current version of the Sales Prospectus (including the Terms and Conditions of Investment and a description of the main risks) as well as the Key Investor Information Document and the last published (semi-)annual report are available in paper form from Catella Real Estate AG, Alter Hof 5, 80331 Munich, Germany, or can be downloaded from www.catella.com