Bouwfonds European Residential Fund (BERF) has purchased a residential development project in Warsaw from Matexi Poland.
The deal marks the first-ever transaction of an entire building with rental apartments by a foreign institutional investor in Poland’s residential market.
The asset, comprising around 10,000 m2 is located at Pereca Street in the centre of Warsaw, on the fringes of the CBD. On completion, the residential scheme will consist of 193 apartments plus ground-floor retail space.
BERF is an open-ended public real estate fund under German investment law, invested in residential property assets across Europe. Bouwfonds Investment Management is responsible for fund management, performance and investor support. REAS acted as transaction advisor to the deal on behalf of Bouwfonds IM.
Michiel Dubois, managing director residential real estate at Bouwfonds IM commented: ‘Poland holds great opportunities with its stable economy and robust growth for investments in the residential rental market.’
He added: ‘We are delighted to expand our pan-European residential portfolio into Poland and plan to increase our activities.’
