1 Asset Management and Solida Capital are extremely happy to announce the closing of a new PBSA (Purpose Built Student Accommodation) project in Warsaw.
I asset management will be acting as the lead investor and asset manager, while Solida Capital Team will act as the main developer and minority investor.
By the start of school year in 2025 we will build approximately 350 units of modern PBSA for students and young professionals under the SHED Living brand. The new PBSA has already obtained the building permit and will offer modern and comfortable rooms, making it an ideal living space for students in the city. This building will be built from scratch to meet the BREEAM standards, ensuring that it meets is the latest sustainability and environmental requirementsSays Matas Mockeliunas, partner at I Asset Management European Student Housing Fund.
The project is ideally located in Warsaw, in the close vicinity of academic campuses and universities, strategically situated next to the metro and tram lines, making it an ideal place for student accommodation. Warsaw is one of the largest academic cities in Central and Eastern Europe, with over 220,000 students, including a large number of internationals.
In terms of fundamentals, Warsaw is probably the best place in Europe to invest in Student Housing projects. The city has lived in recent years very specific phenomenon that have increased the demand of micro and small units significantly higher than the development supply. One of the main focus in Solida Capital, has been to develop student housing projects of elevated quality located in key areas of the city matching students expectations. Therefore we are very excited to initiate the cooperation with I asset management on this project”,says Joao Saracho, Managing Director at Solida Capital Europe.
We would like to extend our sincere thanks to the main advisors and partners who helped us in the process, Bonard, Allen & Overy Poland, Sołtysiński Kawecki & Szlęzak, Trebbi Polska, Orion Securities.