Futureal Investment Partners, a distinguished member of the Futureal Group, has successfully concluded a significant transaction alongside 1 Asset Management, involving the division and sale of two prominent buildings within Lipowy Office Park, situated at the prime location of Zwirki I Wigury St. in bustling Warsaw, Poland.
The acquisition, orchestrated by the CEE Student Housing Fund under the astute management of 1 Asset Management, heralds an exciting chapter in the life of these buildings, as they undergo a remarkable transformation into modern co-living spaces and Purpose-Built Student Accommodation (PBSA) catering to the vibrant student and young professional community.
Karol Pilniewicz, the visionary CEO of Futureal Investment Partners, expressed immense satisfaction at the culmination of this transaction, underscoring its mutually beneficial nature for all parties involved. “This represents a pivotal moment for us, as we navigate the ever-evolving real estate landscape. The decision to repurpose part of the Lipowy project into student housing is a testament to our commitment to meeting the dynamic needs of the market. Moreover, this deal underscores our prowess in executing complex transactions, and we remain steadfast in our pursuit of similar value-added opportunities across various sectors,” Pilniewicz remarked.
Matas Mockeliunas, a distinguished partner at 1 Asset Management, shed light on the strategic significance of this acquisition. “The strategic acquisition of these buildings marks a significant milestone for us. As we expand our footprint in Warsaw, this move aligns seamlessly with our overarching strategy of curating a robust portfolio of contemporary and sustainable PBSA across Poland and the broader CEE region. The revitalization of the existing 21,000m2 office space into a modern rental living area, boasting over 650 units, is poised to inject fresh energy into the surrounding community. With Warsaw grappling with a pressing need for affordable and contemporary housing, particularly for its burgeoning youth demographic, this venture assumes even greater significance,” Mockeliunas elaborated.
Arvydas Avulis, the esteemed chairman of Hanner’s board, emphasized the strategic foresight underlying investments in such transformative projects. “At Hanner, we are steadfast in our commitment to strategic expansion, with a keen focus on real estate ventures in Central and Southern European countries. The acquisition of these buildings underscores our belief in the immense potential of the student housing sector, particularly in Poland, where the existing supply falls short of meeting burgeoning demand. This venture not only aligns with our long-term growth objectives but also underscores our commitment to driving positive change within local communities,” Avulis affirmed.
As the curtains draw on this landmark transaction, all eyes are on Lipowy Office Park, poised to undergo a remarkable metamorphosis that promises to redefine the landscape of student housing in Warsaw and beyond. With Futureal Investment Partners and 1 Asset Management at the helm, backed by the visionary leadership of industry stalwarts like Karol Pilniewicz and Arvydas Avulis, the stage is set for a transformative journey towards a more vibrant and inclusive future for all stakeholders involved.
