Investor Catella Real Estate and developer Matexi have held an official ceremony marking the completion of the Pereca 11 residential project in downtown Warsaw, which is the first housing scheme in Poland to be exclusively earmarked for long-term institutional rentals. The development, which comprises 193 apartments, was in 2016 bought from Matexi by Bouwfonds Investment Management, on behalf of the Bouwfonds European Residential Fund (BERF). Since May 1, 2018, BERF – with its entire European portfolio, including Pereca 11 – has been managed by Catella and has now been renamed Catella European Residential Fund (CERF).
Catella, which in Poland also owns the No.44 Luxury Rental brand offering apartments in the Złota 44 tower in downtown Warsaw and an under-construction complex of three buildings (including one dormitory) in Kraków, sees much potential in the nascent long-term institutional rental market in the country. The company is now working on the acquisition of further projects in the biggest cities across Poland. For example, the investor is currently in advanced talks regarding an acquisition in Gdańsk, revealed country manager Dariusz Węglicki.