Swedish residential investor Heimstaden has secured a €47.2 mln loan from Santander Bank Polska to refinance two Warsaw apartment complexes.
The Heimstaden Bokserska and Heimstaden Grzybowska projects have delivered 566 high-quality apartments available for long-term, stable rental. A significant portion of these apartments are spacious units designed for families with children. Notably, all apartments were quickly leased to tenants.
Heimstaden acquired both residential projects in 2022 from Marvipol Development, marking its second foray into the Polish Private Rented Sector (PRS).
Heimstaden is dedicated to sustainable construction practices and environmental protection. Their projects meet stringent requirements in these areas, and the Heimstaden Bokserska project recently received the BREEAM certificate, recognizing its adherence to the highest sustainability standards.
Pawel Romanczuk, head of operations at Heimstaden Poland, said: ‘We are very pleased to have secured this loan agreement, which confirms the strong foundations of our long-term development strategy in Poland. Despite current market challenges, we remain committed to constant business development, expanding our local team, and building a risk-resistant real estate portfolio that aligns with ESG principles.’
Pawel Sobien, corporate clients’ director at Santander Bank Polska, commented: ‘Being chosen as the financing partner for Heimstaden's first two Polish projects is a great honor for us. The professional rental solutions offered by Heimstaden provide an attractive alternative to owning an apartment, especially for clients who value flexibility in an increasingly mobile society.’
Dentons and CMS advised on the transaction.
With this successful loan agreement, Heimstaden continues to expand its presence in Poland. Currently, they offer 947 apartments for rent across various locations, and their portfolio is expected to reach over 2,200 apartments by the end of 2024.
