Morgan Stanley RE makes first acquisition in Poland

Morgan Stanley Real Estate's Special Situations Fund III has acquired a 25% stake in Wan, a Warsaw-based real estate development company active in the residential, office and logistics sectors. The transaction was Morgan Stanley Real Estate's first investment in Poland.

Commenting on the purchase of 24,000 shares in Wan, John Carrafiell, global co-head of Morgan Stanley Real Estate Investing, noted the company has already made 'pioneering investments' in Russia, Turkey, China and India. 'We believe Poland's strong economic growth, and its strong demand for quality real estate, provide an attractive opportunity to expand our investment platform.' Carrafiell added: 'WAN is a fast-growing and entrepreneurial company with an outstanding track record of organic growth. We are excited at the prospect of contributing to its future success through this capital injection, which will be used to invest in several attractive projects in Warsaw and other parts of Poland.'

Wan has developed more than 150,000 sq m of residential and office properties since it was established in 1995. Its pipeline includes industrial projects.