The acquisition comprises attractive properties located in two established but fast-growing areas of
The agreed purchase price amounts to approximately EUR 65 million, which will be financed using existing funds, and total annual gross rental income for the projects is estimated to
In 2019, Heimstaden Bostad announced it would expand its strategy to include other European markets in addition to Scandinavia, including Central and Eastern European markets with favourable macroeconomic fundamentals and residential trends.
The Polish economy has shown a persistent impressive performance over the past decade and Warsaw is expected to be among the fastest growing European cities over the coming years, with a rising population and increasing household income.
"This latest acquisition is in line with our strategy of expanding Heimstaden Bostad to European markets with strong macroeconomic prospects and attractive housing market dynamics. The Polish residential market is strong and stable, and with expected continued household growth in the major cities, we are convinced that these new homes will be well received in the market," said Christian Fladeland, co-CIO of Heimstaden.
Heimstaden Bostad AB will seek further investment opportunities in the Polish market, both in existing properties and additional build-to-rent projects.
To provide excellent service for customers in line with the Friendly Homes concept, Heimstaden will in 2021 establish in-house operations in Poland.
"As we are entering Poland with an evergreen perspective, we will build up high-quality in-house operations, which will deliver friendly and sustainable homes, and we look forward to presenting our customer centred business model to our future Polish customers," said Patrik Hall, CEO of Heimstaden.
Heimstaden Bostad AB was advised by Dentons (legal), Deloitte (tax), Arcadis (technical),
For more information, contact:
+45 60 60 68 88
christian.fladeland@heimstaden.com
+46 705 85 99 56
patrik.hall@heimstaden.com
About
https://news.cision.com/heimstaden/r/heimstaden-bostad-enters-poland-with-the-acquisition-of-two-build-to-rent-projects,c3248644
https://mb.cision.com/Main/11054/3248644/1344566.pdf
https://news.cision.com/heimstaden/i/patrik-hall,c2857440
https://news.cision.com/heimstaden/i/christian-fladeland,c2857441
(c) 2020 Cision. All rights reserved., source