Apartments for Rent fund buys its first property

The Apartments for Rent Fund, launched in Q1 2014 by state-owned lender BGK, has acquired its first apartment block, located in Poznań. The property contains 124 apartments of 23-72 sqm. The fund did not disclose the deal value, nor the rent levels for the units. The first tenants will be able to move into the building in March 2015. The building is situated on ul. Saperska, in the Wilda district, 6 kilometers from the center of Poznań. Earlier this year, BGK stated that it is planning on buying over a thousand rental apartments in 2015 and between 2,000 and 5,000 in 2016.