Investor Zeitgeist Asset Management informed about the expansion of the portfolio of apartments for rent in Poland. In the purchase of the real estate at ul. Czyżewskiego 34 in Gdańsk Oliwa, experts from JLL advised the investor.

Investment at ul. Czyżewskiego 34 are four residential buildings with 210 apartments for institutional, medium, and long-term rental. They are built in the immediate vicinity of the University of Physical Education and the historic part of Gdańsk-Oliwa. The advantage of the location is the proximity to the business center of the Tri-City, with numerous office buildings and commercial facilities. The apartments are to be put into use in March 2022.

Zeitgeist Asset Management has been operating on the Polish market since 2016. Its portfolio already includes properties in Warsaw and Krakow. Until now, however, it has acquired buildings with "history", which is in line with the company's business strategy throughout Europe. The investment in Gdańsk is the company's first Polish development project built from scratch in Poland.

“Zeitgeist likes historical sites. The investment in their case takes 2-3 years longer, but this extra time and effort pay off. These are properties in very good locations, and their unique character attracts tenants who want to live in interiors with a soul. In turn, the investment at the greenfield stage allows us to influence the planning of the distribution of various functions, such as bathrooms, toilets, and the size of rooms in buildings, which is essential from the point of view of our business. Thanks to this, we can profile real estate for various customer groups,”  Peter Noack, co-founder and managing director of Zeitgeist Asset Management, said.

The investment, the acquisition of which was supported by experts from the JLL Housing Investments Team, is being carried out by a Tri-City developer – the BMC group.

(WBJ)