The expansion follows the acquisition of a 2,290 sq m land plot in Warsaw jointly owned by BPI Real Estate Poland and Acteeum, for an undisclosed amount, Speedwell said in a press release.
The site will host the first Purpose-Built Student Accommodation (PBSA) project in Poland. The sellers have prepared the building permit and concept, enabling Speedwell to start construction in the first quarter of 2025 and complete it before the start of the 2026-2027 academic year.
Located in Warsaw’s sought-after Mokotow district, the student housing unit will house approximately 600 beds, addressing the need for quality student accommodation in the Polish capital.
"We have ambitious plans to acquire a portfolio of projects in Poland similar in size to our portfolio in Romania […] Our key acquisition targets include a variety of asset classes such as residential for sale, apartments for rent, student dormitories, office spaces, and industrial properties, both in Warsaw and in regional cities. We believe in the potential of the Polish market and the broader Central and Eastern European region" said Didier Balcaen, co-founder of Speedwell.
BPI Real Estate, part of multidisciplinary CFE group, is a real estate developer with operations in Belgium, Poland and Luxembourg. Acteeum Group, a private international company based in Poland, manages the full real estate development process from plot selection to design, construction, commercialisation, management, and sale.
Speedwell has been present on the Romanian market for ten years with a portfolio tallying around 150,000 sq m of office and retail space, over 6,000 apartments and the first 23,000 sq m of high-quality industrial space for small and medium-sized enterprises (SME) called SpacePLus, with a total portfolio value estimated at around 1.5 billion euro.
In April 2024, Belgium's real estate developers Baltisse and Straco announced the acquisition of a majority stake in Speedwell. The two Belgian companies said they will assist Speedwell in expanding its Romanian business as well as entering the Polish market.
Jul 5, 2024
