Catella : European Residential Sells Fully-let Residential and Student Housing Properties in Warsaw and Krakow for more than €60 mln

Berlin-based Catella Residential Investment Management GmbH (CRIM) has sold two centrally located fully-let residential and student housing assets in Warsaw and Krakow in Poland to institutional investors in Austria and the Netherlands for more than €60 mln on behalf of Munich-headquartered AIFM platform Catella Real Estate AG (CREAG).

Catella entered the Polish residential market in 2016 with the acquisition in Warsaw, followed by the purchase of “Trio Kraków” in Krakow in 2017. With 38 million inhabitants, Poland is the largest market in Central and Eastern Europe and faces a shortage of between 1.5 to 3 million rental apartments. Poland’s purpose-built student accommodation (PBSA) market is also very attractive for investors as the country has some 1.2 million students and very few institutional student dormitories …