Investment fund Catella Real Estate has finalized its acquisition of 72 luxury apartments located on entire floors 11 through 19 of the iconic Złota 44 residential tower in downtown Warsaw from investors Amstar and BBI Development. The unprecedented transaction was first announced in July last year and marked the beginning of an institutional luxury rental property market in Poland. The buyer will offer the Złota 44 apartments for long-term rentals under its newly created No. 44 brand, with the service targeted at clients including CEOs and other top managers of international companies, expats and diplomats. In a recent interview with WBJ, Xavier Jongen, management board member at Catella, said that the rental rates would range from approximately PLN 9,000 to around PLN 21,000 per month, depending on the standard and the size of the particular apartment. Catella will offer the apartments in three different finishing standards.
Złota 44 Image : Maciej Krüger/BBI Development