JLL advises NREP on its first PRS investment in Poland
JLL advised NREP, a leading Nordic real estate investor, on its first investment in the Polish private rented sector. The investment entails more than 1,000 new build units in living assets acquired from YIT.
NREP, a leading real estate investor and innovator in the Nordics, managing assets worth more than €10bn, announced the market entry into Poland with the purchase of more than 1,000 new build units acquired from YIT. By 2025, NREP plans to deliver 10,000 modern homes in major Polish cities, most of them designed to meet the increasing demand for 1-2 person households, such as young urban professionals, singles, or young couples, looking for modern living solutions with a community vibe.
The transaction of NREP relates to three projects of YIT located in the Polish capital city, Warsaw. The first apartments in two buildings currently under construction in the projects Parkur Residence and Nordic Bemowo will be ready by 2022. By 2024, the investor intends to launch one of the largest living projects in Poland as well, comprising more than 800 units. All the investments will be equipped with green roof tops, charging stations for electric cars, and areas for urban farming.
NREP is extending its presence to Poland to leverage opportunities within the company’s two largest business areas, modern logistics and customer-centric rental housing.
The transaction of NREP was supported by our JLL Living Investment Team consisting of Maximillian Mendel, Krystyna Pietruszyńska and Patrick Pospiech.
"The market entry of NREP is a sign of growing maturity of the Polish market. The country’s living sector offers not only high returns and stable demand – but, due to its specificity, also allows to create portfolios of modern state-of-the-art assets. This factor is attractive for long-term investors who value and prioritize sustainability in real estate, such as NREP. This is a very important signal to the sector’s development, but also for shaping the future of real estate for a better world.” comments Krystyna Pietruszyńska, Senior Consultant, Living Investment.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of March, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.