Dentons suggested Heimstaden Bostad AB, the third largest European residential property proprietor and operator on its first transaction in Poland – acquisition of two build-to-rent tasks situated in Praga Północ and Służewiec districts in Warsaw. The funding, together with 640 residential models was bought from the French developer and contractor Eiffage Immobilier Polska, which will even act as the overall contractor. The transaction, price some €65 million, is structured as a the ahead buy.
Construction work on the 2 tasks, situated in Praga-Północ and Służewiec Districts, is to begin early in 2021 with completion in Q1 2022 and Q1 2023. Together, they may comprise 640 residences (24,363 sq. m.) with extra business models (2,117 sq. m) and parking house.
Real property transactions within the non-public rental sector have gotten an more and more vital factor of the funding market. There is a lot of buyers involved in getting into or planning to extend the size of their operations on this section.
The venture was supervised by associate Piotr Szafarz, Head of Real Estate in Poland and CEE. The transaction was led by counsel Jarosław Stąpel, who was supported by associates Maciej Roman, Patrycja Pakla and Joanna Popławska.