Institutional leases also in Gdańsk

Gdańsk is another investment destination for Zeitgeist Asset Management, an asset management company for private and institutional investors. In one of the city's most prestigious neighborhoods – Oliwa – the company is building a compound of four residential buildings for short – and long-term lease. The construction work is carried out by developer BMC.

The new project is located at Czyżewskiego Street 34 and borders on one side with Oliwa's forests and hills, on the other side with AWF Physical Education University's grounds and Gdańsk's historical inner city. An undoubted advantage is the proximity of the Tricity business center with numerous office buildings and commercial facilities. The apartments are due to be completed in March 2022.

The novelty on the Tri-City market will be a method of real estate commercialization – institutional rental. The service will be provided by the operator Home by Zeitgeist, being an own brand of Zeitgeist Asset Management. 

“HOME by Zeitgeist is a brand-new residential concept on the Polish market providing a safe lease with no commission or third party involved. All apartments and additionally, high-quality services are delivered directly from the owner to the tenants,” Peter Noack, co-founder of Zeitgeist Asset Management, said.

According to him, in the next five years, the institutional lease offer in Poland will increase at least six-fold. This is due to the increasingly difficult access to housing purchase loans, and income uncertainty, particularly during the recession.

The housing estate is built for Zeitgeist AM by developer BMC, which has 15 other buildings in the Tri-City area in its portfolio.

(WBJ)