Bouwfonds European Residential Fund (BERF) has acquired a residential development project in Warsaw from Matexi Poland. It is the first transaction of a whole building with rental apartments by a foreign institutional investor on the Polish residential market. REAS has acted as transaction advisor to the deal on behalf of Bouwfonds Investment Management (Bouwfonds IM).

Bouwfonds European Residential Fund (BERF) is an open-ended public real estate fund under German investment law, invested in residential property assets across Europe. Bouwfonds IM is responsible for fund management, performance and investor support. With its acquisition in Warsaw, BERF has expanded its pan-European portfolio to Poland.  “Poland holds great opportunities with its stable economy and robust growth for investments in the residential rental market. We are delighted to expand our pan-European residential portfolio into Poland and plan to increase our activities”, states Michiel Dubois, Managing Director Residential Real Estate at Bouwfonds IM.

The acquisition of approximately 10,000 sq. m. is situated at Pereca Street in Warsaw’s city center. The property is within 5 minutes walking distance from the Rondo ONZ metro station and borders to the CBD. It is a unique opportunity to be able to acquire high quality rental apartments designed for young professionals right in the middle of the city center. The residential development project is currently under construction and will consist of 193 apartments and ground-floor retail space.

“I am delighted that the deal has been successful, following the past months of hard work and efforts we devoted to prepare this pioneering investment on the Polish private rented sector. The transaction is a good signal for the market and I am convinced that it will help to encourage dynamic growth in the rental sector. Our team is strongly dedicated to identifying the right deals leading to mutual gain for both investors and developers“ comments Maximilian Mendel, Partner at REAS in charge of transaction advisory.

“Selling an entire property development to an institutional investor is an attractive alternative to traditional retail sales of apartments. I am convinced that the experience we gained in this first transaction will be an added value for future deals. Sales to institutional investors are an integral element in our business growth model”, adds Mirosław Bednarek, CEO of Matexi Polska.

Other advisors to the transaction included Clifford Chance, TPA Horwath and Arcadis on behalf of Bouwfonds IM and Baker & McKenzie on behalf of Matexi Polska.