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Clifford Chance and KWKR Advise on CRIM Sale of Warsaw and Krakow Housing Assets

Clifford Chance and KWKR Advise on CRIM Sale of Warsaw and Krakow Housing Assets

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Clifford Chance has advised Catella Residential Investment Management on its EUR 60 million sale of residential and student housing properties in Warsaw and Krakow. Konieczny Wierzbicki & Partners advised Dutch buyer Van der Vorm Vastgoed on the acquisition of the Trio project in Krakow. 

According to Catella's press statement, the Trio project includes 139 student residences, 152 apartments, and a 155-vehicle car park and is located opposite Cracow University’s economics faculty. The Pereca 11 residential property in Warsaw comprises 193 apartments of varying sizes.

"The Trio Krakow project has expanded Van der Vorm Vastoged's portfolio, which now already consists of nearly 800 residential units," KWKR reported. "The project itself and its finishing emphasize the commitment of both parties to the transaction to guarantee the highest possible quality for future tenants."

"The Polish residential market is predominantly an owner-occupier market but is shifting to a rental market, which will offer attractive investment opportunities for years to come," CRIM Head of Fund Management Benjamin Ruther commented. "Both 'Pereca 11' in Warsaw and 'Trio Krakow' are fully let and are outperforming our business plans. After having achieved very attractive returns for our investors in recent years with both these properties, we now intend to focus on new investment opportunities."

Founded in 2007, Catella Group subsidiary CRIM manages European residential and student housing funds and has assets under management of more than EUR 7 billion across 11 European countries.

Van der Vorm Vastgoed is a Rotterdam-headquartered company that owns and sublets residential, office, and commercial real estate. The company owns about 1,500 apartments and family homes, 15 shopping centers, and 10 office buildings in the Netherlands and Europe.

The Clifford Chance team included Counsel Bartosz Kaniasty and Associates Agata Parys and Maria Janiak.

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