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Student Accommodation Development in Warsaw, Poland

Warsaw
,
Poland
DEAL
001097
POSTED ON
October 21, 2020
INVESTMENT SUMMARY
IRR
25%
Multiple
2.0
LTV
65%
First Year CoC
NA
Stabilised CoC
NA
Status
Funding
Deal #
001097
Asset Class
Student Accommodation
Strategy
Development
Capital Type
Full Stack
Deal Size
12.5
m
Investment Size
12.5
m
Holding Period
3 years
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INVESTMENT HIGHLIGHTS
  • The Sponsor  is a partnership formed by a renowned polish developer and American PBSA operator and developer. This is their second project together in Poland after successfully completing a 290 units PBSA development in Krakow.
  • The Sponsor believes in the great potential for PBSA development Poland offers. While the student population percentage of 3.4% is in line with Western Europe (UK - 3.5%; Germany- 3.4%) the number of beds as percentage of students of 0.3% is significantly lower than Germany (9%) or UK (22%).
  • The property is to be located opposite Koźminsky University which is well recognized Polish private University with over 8,000 students including over 1,500 international students. The location gives easy access to communication hubs like Central Station and Main Bus Station, as well as to the capital attractions. The great benefit of the location is the fact that the site is part of the general revitalization concept for the post industrial zone (former FSO facilities). Due to the above the whole area will be newly developed, which gives opportunity for the most efficient and functional solutions. To facilitate the plot size there is planned additional development on the back side of the property. The other part will be developed with residential for sale.
  • The preliminary assumptions on the project mix are: around 650 beds located in 276 residential units dedicated for 1, 2 or 4 persons. Each of the units will be modern style, fully furnished, with kitchen facility and private bathroom. The 1 person units will be in majority.  
  • Following planning permit approval, the site is expected to receive construction permit shortly. The Sponsor is looking to sell the site at a price c. PLN 55m (€12.5m) or joint venture with a like-minded investor that is interested in participate in the unique development.
KEY DEAL POINTS
KEY FINANCIALS
ABOUT SPONSOR
Enterprise Sponsor
A large established firm with global presence. Has at least 15 years of verifiable track record and at least $500m in turnover annually or over $10bn of AUM.
FURTHER IMAGES
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VIDEOS
LOCATION
DEAL DATA ROOM
Here you can find the data room submitted by the sponsor for your due diligence. It will also appear in your BrixFlow Data Room in your Dashboard. If you don't have access you can request access in the Request Introduction section.

CONTENT RESTRICTED

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INVESTMENT SUMMARY
Strategy
Development
Asset Class
Student Accommodation
LTV
65%
Deal Size
12.5
m
Closing
Capital Type
Full Stack
Investment Size
12.5
m
Net IRR
25%
Multiple
2.0
Holding Period
3 years
INVESTMENT DETAILS
  • The Sponsor  is a partnership formed by a renowned polish developer and American PBSA operator and developer. This is their second project together in Poland after successfully completing a 290 units PBSA development in Krakow.
  • The Sponsor believes in the great potential for PBSA development Poland offers. While the student population percentage of 3.4% is in line with Western Europe (UK - 3.5%; Germany- 3.4%) the number of beds as percentage of students of 0.3% is significantly lower than Germany (9%) or UK (22%).
  • The property is to be located opposite Koźminsky University which is well recognized Polish private University with over 8,000 students including over 1,500 international students. The location gives easy access to communication hubs like Central Station and Main Bus Station, as well as to the capital attractions. The great benefit of the location is the fact that the site is part of the general revitalization concept for the post industrial zone (former FSO facilities). Due to the above the whole area will be newly developed, which gives opportunity for the most efficient and functional solutions. To facilitate the plot size there is planned additional development on the back side of the property. The other part will be developed with residential for sale.
  • The preliminary assumptions on the project mix are: around 650 beds located in 276 residential units dedicated for 1, 2 or 4 persons. Each of the units will be modern style, fully furnished, with kitchen facility and private bathroom. The 1 person units will be in majority.  
  • Following planning permit approval, the site is expected to receive construction permit shortly. The Sponsor is looking to sell the site at a price c. PLN 55m (€12.5m) or joint venture with a like-minded investor that is interested in participate in the unique development.
INVESTMENT HIGHLIGHTS
Funding
SUMMARY
Opportunity to acquire this plot or participate in the development of a student accommodation residence in Warsaw, Poland. The sponsor has received recently planning permission and is looking for a like minded investor to develop this unique opportunity or to sell the plot. The property will feature 276 units / 650 beds. The Sponsor is an experienced American operator and local developer.
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