Another PRS deal in Warsaw's Wola district

Development company Dantex has finalized the sale of the PRS property located in Warsaw's Wola district to Syrena Real Estate. The team of immo lab consulting agency was responsible for organizing and carrying out the sale process.

Dantex, which has been operating on the local market since 2007, has so far completed more than 20 investments in the capital. Eight more are currently under construction and in the pipeline. Over the past few years on the market, the developer has sold up to 1,000 apartments a year.

"The sale of a commercial building from Dantex's portfolio proves that, despite the current political and economic situation, the PRS market in Poland is still on the radar of investors, and investment transactions are possible. Further sales processes should be favored by the situation on the real estate market," comments Piotr Litwin, Partner at immo lab.

The investment built by Dantex, which includes the service property in question, is located at the intersection of Goleszowska and Wolska streets and is part of the already completed Wola Nowa investment. The service area of the building, which was the subject of the transaction, is almost 3,000 sqm in 116 service units and nearly 400 sqm in retail and service units on the first floor. The building is the nucleus of the new PRS platform.

"The property attracted the interest of several entities from the beginning. Potential investors appreciated the building's location in Warsaw's Wola district, which remains one of the capital's best spots for PRS investments. In addition, the development of the facility was well under way, so any fund would be able to start operations there very quickly. Although the coming winter will be an important test for the entire market, the just finalized transaction shows that we should not follow the wave of pessimistic sentiment," adds Jakub Szymanowski, Senior Broker, immo lab.

Currently, immo lab is involved in a number of PRS projects not only in Warsaw, but also in major regional markets.

"Institutional leasing is a relatively young segment on the Polish real estate market. Its development will certainly be fostered by the emergence of an increasing number of entities specializing in optimizing properties for the needs of PRS funds, which is what immo lab does, for example, as well as comprehensive management of such facilities, which is part of the offer of Syrena Real Estate, among others," Piotr Litwin concludes.