EBRD Supports Nrep’s Innovative Housing Concept in Poland with PLN 58.9 Million Loan

EBRD Supports Nrep’s Innovative Housing Concept in Poland with PLN 58.9 Million Loan

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has extended a loan of PLN 58.9 million (€13.7 million) to Nrep Nordic Strategies Fund IV’s Polish subsidiary to facilitate the development of residential housing in Poland. This funding will support Nrep’s Noli Studios, a flexible living concept offering contemporary and serviced studios targeting young home-seekers and travellers. The new property, located in Warsaw, aims to address Poland’s housing shortage, exacerbated by recent events such as the Ukraine crisis. Nrep, known for its commitment to sustainability and equitable access to rental accommodation, is one of the largest real estate investors in northern Europe. This investment aligns with the EBRD’s longstanding commitment to supporting sustainable development in Poland, where it has invested over €14 billion in various projects since 1991.

(PRESS RELEASE) LONDON, 19-Apr-2024 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) is supporting the development of residential housing in Poland by extending a loan of PLN 58.9 million (€13.7 million) to the Polish subsidiary of Nrep Nordic Strategies Fund IV. The EBRD’s loan, provided in Polish zloty, will finance Nrep’s first flexible living property in Poland under its brand Noli Studios. The signing follows an earlier commitment to Nrep of PLN 63.2 million, which supported the development of two residential-for-rent assets in Nrep’s portfolio in Poland, bringing 220 residential units to the Polish housing market.

Noli Studios is a concept for young home-seekers and travellers looking for the comforts of home and the amenities of a hotel. The serviced, contemporary and move-in-ready studios offer privacy combined with extended services and access to shared spaces, where people get the opportunity to be part of a community of fellow guests. The new property, in Warsaw, is built to the latest sustainability standards, and is targeting the BREEAM In Use “Very Good” certification.

The new flexible living concept will help to tackle Poland’s chronic shortage of rental accommodation, which has grown even more acute since Russia’s invasion of Ukraine, and the arrival of Ukrainian refugees in Poland.

Nrep is an active investor in Poland both in the logistics and residential segments. It offers fully furnished, contemporary apartments to a diverse range of rental tenants. The company’s leasing policies prioritise equitable access to rental accommodation, welcoming all guests and tenants equally.

Nrep is one of the largest real-estate investors in northern Europe, with more than €19 billion of assets under management. With a successful track record and strong environmental credentials, Nrep is committed to leading and accelerating the decarbonisation of real estate.

The EBRD is a leading institutional investor in Poland. Since the start of its operations in the country in 1991, the Bank has invested more than €14 billion in 519 projects. Last year the Bank invested a record €1.3 billion in Poland.

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SOURCE: EBRD