Cavatina: Cavare sold the project at Ostrobramska for approx. PLN 59 million for LifeSpot
Cavare from the Cavatina group has signed an agreement to sell the project being created at ul. Ostrobramska in Warsaw with LifeSpot, a long-term rental apartment platform in Poland belonging to a fund managed by Griffin Capital Partners, Cavatina said. The transaction is almost PLN 59 million, and the investment, which is under construction, in the third quarter of 2025 will provide 143 apartments for rent.
"The Ostrobram project will complement LifeSpot's portfolio with more than 140 apartments with a total net leasable area of 4600 m2. The forward funding transaction consisted of a real estate sale agreement and a DMA (development management agreement) contract for the implementation of a PRS building on the sold plot.
Cavare is a company owned by Cavatina Group. In the coming years, it plans to build and make available for long-term rental of 2,700 apartments in the largest cities in Poland - in the first place, its projects will be built in Warsaw, Wrocław, Gdańsk and Krakow. It wants to act both as an operator of the construction projects and to implement them for the needs of other entities
“The PRS sector in Poland is accelerating, professionalizing the market still dominated by rent from private individuals. The Ostrobramska transaction is the beginning of a good collaboration between Cavare and LifeSpot. We have plans for more joint ventures. The general contractor of the investment is a company from our group, and the project is already in implementation," said Bartłomiej Wentlandt, Managing Director of Cavare Bartłomiej Wentlandt.
As part of the investment, apartments of different sizes will be made available, with the advantage of studio and 2-room premises, was emphasized.
“We are constantly looking for new investment opportunities to enrich our portfolio. We pay special attention to Warsaw, which is responsible for over 40% of the entire Polish PRS market. The Ostrobramska project fits perfectly into our development strategy, offering an attractive location, the right area and high quality. We systematically increase our presence not only in the capital city, but also in other cities, because our strategic goal is to achieve 6,000 units offered in the next 3 years," added the senior partner at Griffin Capital Partners Marek Obuchowicz.
LifeSpot is a long-term rental housing platform in Poland owned by funds managed by Ares Management and Griffin Capital Partners.
The Cavatina Holding Capital Group is one of the largest office space developers operating in Poland. It debuted on the main market of the WSE in 2021.