The “I Asset Management” investment plans in Poland were strengthened by the strategic partnership with “Hanner”

2023 11 15

The co-living project of the investment company “1 Asset Management” was opened in Krakow – the private student house “SHED Living“, in which the real estate development company “Hanner” also invested. The total value of the project reaches more than 30 million Eur.

“We decided to invest in Krakow because it is one of the largest academic cities in Poland, with a huge concentration of universities and higher education institutions, over 130,000 students study here. This is so far our largest project in the student housing portfolio and the first in Poland,” says Matas Mockeliūnas, partner of the “European Student Housing Fund” managed by “I Asset Management”.

The student house opened in the center of Krakow and has 566 rooms that meet international student accommodation standards. Most of them are single studios. The rooms have separate kitchenettes and bathrooms, and for the convenience of the residents, there are also relaxation and game rooms, fitness and yoga rooms, a study room, a common kitchen, a cinema hall and a leisure area with a balcony on the upper floor. The total area of the project is 18 thousand sq. m. Currently, about 700 students from more than 40 countries live here.

This is already the third housing project of the “SHED” brand – the first two similar projects were opened in Riga and Vilnius  in 2022. The total investments in student housing projects managed by “1 Asset Management” is more than 60 million Eur.

Strategic partnership with Hanner

According to M. Mockeliūnas, the Polish market is very large: the demand for this type of housing in the country is high and the competition in this segment is relatively low.

“The favorable ratio of supply and demand determined the fact that we chose Poland for the active development of private student housing projects. In addition to the already implemented Krakow project, we are currently intensively developing new student housing projects in Warsaw, which we plan to open as early as 2025,” says the partner of the “European Student Housing Fund”.

The management company “1 Asset Management” established a separate fund “CEE Student Housing Fund” for the development of other projects in Poland and other Central and Eastern European countries, in which “Hanner” became a strategic investor.

“Investments in this kind of projects are in line with our strategic development direction – to pay more attention to real estate projects in Central and Southern European countries. Our first investments in the project in Krakow showed great business synergy, so we agreed with “1 Asset Management” on a long-term strategic partnership”, says Arvydas Avulis, chairman of the board of “Hanner”.

According to M. Mockeliūnas, the target amount of the fund’s own capital is 100 million EUR, which would enable over 200 million EUR investments in improving the academic residential infrastructure in the region.

In the near future, the most active development is planned in the major academic centers of Poland: Warsaw, Gdansk, Wroclaw. However, investment opportunities are also being actively explored in Prague, Bratislava, Riga and other cities where many students come to study and where strong regional universities are located. The team is actively looking for plots or existing buildings that could be converted into modern student housing.

Focus on sustainability and comfort

While developing “SHED Living” special attention was paid to sustainability and the comfort of the residents who will live here. The aim was to create an exceptional environment for students. As many as 1800 sq. m. the area is occupied by common spaces: recreational areas, kitchen, work and study spaces, game rooms, cinema and gyms.

“The projects we develop are not just accommodation spaces. In each project we aim to bring the community together so that residents get to know each other, create together, and participate in events. Investing in building a community pays off – we see more and more students renewing their leases and recommending this accommodation to their friends because of the good atmosphere. This year at the international co-living awards, our “Shed Living” projects were repeatedly awarded as the best student housing projects on the market,” says M. Mockeliūnas.