Lithuanian real estate developer Hanner and asset manager 1 Asset Management are expanding their presence in Poland with another student housing project in Warsaw.
This marks their second co-living student house development in the capital, with a total investment exceeding €25 mln.
Due for completion by summer 2025, the new development will be located on Pulawska Street in Warsaw's Mokotów district. Spanning over 0.55 hectares, it will feature 7,500 m2 of living space and house 360 rooms, accommodating 400 students.
To deliver this project, 1 Asset Management's CEE Student Housing Fund, with Hanner as its strategic investor, has partnered for the first time with Pekabex, an international construction and modular building manufacturer. Pekabex's prefabricated construction technologies will streamline the building process, expedite project completion, and minimize environmental impact.
Arvydas Avulis, chairman of Hanner's board, said: ‘As demand for student housing in Poland still far exceeds supply, we continue to invest in this promising real estate segment. This kind of real estate projects are in line with the direction of our expansion into the countries of Central and Southern Europe and allow us to diversify the company's investments.’
CEE Student Housing Fund partner, Matas Mockeliunas, added: ‘We chose this technology because it speeds up the construction process, so instead of 21 months, the construction will last only 16. We save a lot of time because the construction elements are produced in the factory independently of the construction site and transported to the site and immediately installed in the building structure.’
The project is Hanner's fourth collaboration with 1 Asset Management in Poland. In 2023, they opened a student house in Krakow, with similar projects underway in Warsaw and Wroclaw.
Earlier this year, Hanner announced it is investing €24 mln a multi-apartment complex on Swidnicka Street in Warsaw that will house 180 apartments.
Looking ahead, Hanner aims to allocate €50 mln to student housing projects in Poland between 2024 and 2028, with an additional €50 mln dedicated to residential buildings.
1 Asset Management, through its 1AM European Student Housing Fund, primarily focuses on projects in Vilnius, Kaunas, Riga, and Krakow, with a total value of over €60 mln. Their dedicated CEE Student Housing Fund targets further investments in Poland and CEE, aiming for a fund size of €110 mln.
