Allen & Overy has advised Solida Capital and 1 Asset Management on a new purpose-built student accommodation project in Warsaw.
According to the firm, the project "will involve building approximately 350 units of modern PBSA for students and young professionals by the start of 2025. The building will be built from scratch to meet the BREEAM standards and comply with the latest sustainability and environmental requirements. 1 Asset Management will be acting as the lead investor and asset manager in the project, while Solida Capital will act as the main developer and minority investor."
"In terms of fundamentals, Warsaw is probably the best place in Europe to invest in student housing projects," Solida Capital Europe Managing Director Joao Saracho commented. "The city has lived in recent years very specific phenomena that have increased the demand of micro and small units significantly higher than the development supply. One of the main focuses 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 1 Asset Management on this project."
Allen & Overy’s team included Partner Michal Matera and Senior Associate Malgorzata Jastrzebska.
Allen & Overy could not provide additional information on the deal.