Polish long-term rental housing platform LifeSpot has secured additional funding from its owners, Ares Management and Griffin Capital Partners.
The new funding will be used to acquire or construct roughly 2,500 rental apartments in Warsaw, Krakow, Gdansk, and Wroclaw, expanding LifeSpot's presence in Poland's growing private rental market.
Since launching in 2021, LifeSpot has grown to include about 1,400 apartments that are already rented out with another 1,800 under construction. The company's rentals are spread out across major Polish cities.
These new units are expected to be completed within the next 1 to 3 years, bringing LifeSpot's managed units to nearly 6,000, making it one of the largest rental housing platforms in Poland.
William Twemlow, principal at Ares Management, said: ‘Over the last three years, LifeSpot has quickly established itself as an important provider of quality and affordable rental housing in Poland. We have seen strong demand from residents across the major cities experiencing persistent undersupply.’
Marek Obuchowicz, senior partner at Griffin Capital Partners, added: ‘The PRS market in Poland still accounts for only about 0.1% of the total housing stock, while the demand for apartments is high. The structural housing deficit in Poland is 1.5 million units, therefore, the PRS segment is particularly attractive to us as an investor, and we strongly believe in its development potential.’
