On October 6, 2021, Atrium announced that it had signed its first two residential transactions in Poland (in Krakow, respectively Warsaw), totalling around 650 residential units, and amounting to EUR 53 million.
According to the company, both transactions are expected to be completed by the first half of 2022, with all apartments operational by the end of 2022. The acquisitions form part of the diversification strategy which targets the creation of a portfolio of approximately 5,000 residential for rent units by the end of 2025.
“These transactions mark a step forward in our strategy to diversify our portfolio into the residential for rent sector and leverage growth opportunities that will allow us to continue to deliver strong, long term sustainable returns to our shareholders,” commented Atrium CEO Liad Barzilai. “The assets exemplify how we will seek to take advantage of strong macroeconomic fundamentals and urbanization trends in locations where there is currently a lack of good quality rental apartments. We currently have an identified pipeline of a further 4,000 units in Poland and we look forward to building on these initial investments over the coming months.”