1 Asset Management together with real estate company Hanner are pleased to announce the successful completion of the acquisition of two buildings in the Lipowy office park in Warsaw, Poland from Futureal Investment Partners.

1 Asset Management will convert existing office buildings into modern purpose built student accommodation SHED Living and invest more than 50 million Eur. The location of the objects is in the prestigious Ochota district of Warsaw, where the main universities of Warsaw are located, where students of medicine, applied and other science faculties study. Warsaw is the largest academic center in the CEE region with more than 220,000 students living in the city.

1 Asset Management has established a separate fund called CEE Student Housing Fund, whose strategic investor is Hanner to develop projects in Poland and other Central and Eastern European countries.

“This is our second SHED Living location in Warsaw. This is a strategic acquisition to create a strong portfolio of modern and sustainable modern student housing in Poland and other Central and Eastern European countries. This is a good example of a conversion project where the former 21,000 sq meters of office space will be converted into a modern purpose built student accommodation with 650 rooms. There is a serious shortage of affordable and modern living space for students and young professionals in Warsaw – the supply in this segment is extremely low, and due to the large number of students, the demand is extremely high.” says Matas Mockeliūnas, partner of CEE Student Housing Fund.

“Investments in this kind of projects are in line with the direction of our strategic development to pay more attention to real estate projects in Central and Southern European countries. Since student housing in Poland meets only a fraction of the demand, we see many opportunities in this sector,” says Arvydas Avulis, Hanner’s board chairman.

More about CEE Student Housing Fund.