Dentons advised Heimstaden Bostad AB, the third largest European residential property owner and operator on its first transaction in Poland - acquisition of two build-to-rent projects in Warsaw. The investment, comprising 640 residential units was purchased from the French developer and contractor Eiffage Immobilier Polska, which will also act as the general contractor. The transaction, worth some €65 million, is structured as a forward purchase.

Construction works on the two projects, located in Warsaw’s Praga-Północ and Służewiec districts, are to start in early 2021 with completion planned for Q1 2022 and Q1 2023 respectively. Once completed, the projects will offer 24,363 sq. m. of residential space and 2,117 sq. m. of additional commercial units and parking space.

Real estate transactions in the private rental sector are becoming an increasingly important element of the investment market. There is a large number of investors interested in entering or planning to increase the scale of their operations in this segment.

The project was supervised by partner Piotr Szafarz, Head of Real Estate in Poland and CEE. The transaction was led by counsel Jarosław Stąpel, with support of associates Maciej Roman, Patrycja Pakla and Joanna Popławska.

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