Dentons’ Real Estate team in Warsaw has advised a special corporate vehicle owned by Hines and Heitman on the sale of TRIO Kraków – a building complex, part of the Novum Apartments Project, comprising modern halls of residence and two short- and long-term rental residential buildings. The transaction value reached €20 million. The complex was purchased by the long-term residential property fund Catella European Residential Fund (CER).

TRIO Kraków, developed by Hines, is the first housing project purchased by CER in Krakow, and the second acquisition of this type in Poland. The project consists of three modern design residential buildings located in the heart of Kraków, in the vicinity of the main railway station and the Old City Market Square. The scheme offers 152 flats on a long-term lease basis and 139 rooms in privately-owned halls of residence with a total usable surface area of 9,200 sq.m.

The transaction was brought to completion by Bartłomiej Kordeczka (Partner), Maciej Jodkowski (Counsel), Ewelina Klein (Senior Associate) and Magdalena Łażewska (Senior Associate).

About Dentons

Redefining possibilities. Together, everywhere. For more information visit dentons.com