International investor Aurec Capital has expanded its portfolio in the private rented sector (PRS) in Poland. The transaction of the Puławska 186 project completed between Aurec Capital Poland and Matexi Polska is worth over PLN 100 million. JLL advised the investor on the purchase of the property.
Our strategy assumes the selection of locations that will be attractive in terms of commute and provide easy access to the city's main business centres. We also try to ensure that the buildings we choose are embedded in the existing and well-functioning urban fabric, which we want to co-create through our activities. This transaction is a proof of our believe in the development potential of the private rented sector in Poland. It also strengthens our position as the leading operator on the rental market in Warsaw, since our goal is to achieve a portfolio size of thousands of units in major cities in Poland.
Roee Shamir, Managing Director Aurec Capital Poland
International investors must operate in a build-to-rent model because there is a shortage of standing assets or portfolios of scale that could become the subject of transactions. However, they need knowledge of the local market's particularities, which can be provided by a local business partner. At the same time, the local partner can make use of stable capital resources to finance the project development. There are two paths. This can be done by building up a platform locally, remaining in the hands of the investor, which supports all investment stages or through cooperation with Polish development companies at the implementation stage and operators supporting the commercialization process.
Maximilian Mendel, Head of Living Investment at JLL
