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Home Countries Poland

Nrep Acquires Warsaw Property for Apartment Building

by David Stuckey

October 7, 2024

Reading Time:1 min read

Nrep Acquires Warsaw Property for Apartment Building

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Nrep, investing through the NSF V fund, has acquired a plot of land on ul. Nocznickiego in the Bielany district of Warsaw and entered into a development agreement with White Stone Development for the construction of a building.

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Nrep is part of Urban Partners, describes by the Greenberg Traurig law firm, which advised it on the deal, as a “platform of vision-aligned, differentiated, investment strategies shaped around urban problem solving.” According to Greenberg Traurig, Urban Partners has “EUR 21 billion under management, [and] invests in assets, companies, technologies, and solutions.”White Stone Development, which is a Polish developer active in the residential and commercial market, will be responsible for the construction of the project, which upon completion will be handed over to Nrep, which will manage the building under the Lett brand.The building to be constructed in the Bielany district will have 15,500-square-meters of leasable space — eventually taking the form of more than 480 rental units and approximately 400 square meters of commercial space. The value of the investment has been estimated at around PLN 200 million, and the building is scheduled for completion in the first quarter of 2027.

The Baker McKenzie law firm advised White Stone on the deal.

Image source: Property-forum.eu

David Stuckey

A founder and former Executive Editor of CEE Legal Matters Kft., now writing for CEE Real Estate Matters. A professional writer, editor, publisher, consultant, and entrepreneur, and an amateur tennis player, cinephile, and bon vivant.

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CEE Real Estate Matters is an online and eZine format publication dedicated to the fast-moving real estate markets in Central and Eastern Europe. Our diligent team of journalists works tirelessly to bring about news and analysis in five key areas: residential, office, retail, logistics and proptech. We guide real estate professionals through the complexities of these sectors, from stand-out development projects and deals, to financing, legislation and big executive moves.

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