Atrium’s first residential acquisitions secure 650 units in Poland for €53 mln

Atrium European Real Estate, a leading owner and operator of shopping centers and residential for rent properties in Central Europe, announces that it has signed its first two residential transactions, totaling around 650 residential units, located in Warsaw and Kraków in Poland, for €53 million in aggregate. Atrium will invest further into the properties to achieve the highest sustainability standards and a BREEAM certification.

Both transactions are expected to be completed by the first half of 2022, with all apartments operational by the end of 2022. The acquisitions form part of the diversification strategy which targets the creation of a portfolio of approximately 5,000 residential for rent units by the end of 2025.

The first property is located in the Włochy district in the western part of Warsaw. The 541-unit building complex is scheduled for completion no later than Q2 2022 and will target young professionals as well as young families with units of various sizes and layouts.

The growing Włochy district is close to one of the main avenues in Warsaw and benefits from access to extensive public transport networks. These include direct train and bus connections to Warsaw city center, as well as direct access to the capital’s main surrounding motorways, Warsaw Chopin international airport, and the office hub in the Mokotów area.

The second property is being developed in Kraków, the second-largest city in Poland and one of the leading centers of academic, economic, cultural, and artistic life in the region. The 109-unit building is also expected to be delivered in Q1 2022. The property is located in the Krowodrza district, in the north-western part of Kraków, one of the most attractive and sought-after areas of the city. 

“These transactions mark a step forward in our strategy to diversify our portfolio into the residential for rent sector and leverage growth opportunities that will allow us to continue to deliver strong, long-term sustainable returns to our shareholders,” Liad Barzilai, CEO of Atrium Group, said.

(WBJ)