Trei Real Estate plans 7 Vendo Parks, 4 residential proj. and PRS investment in Poland in 2023

Trei Real Estate's plans for the Polish market this year include the construction of seven more Vendo Parks, the launch of four new projects offering apartments for sale and a debut in the rental housing segment (PRS), the company said.

Trei Real Estate is one of the largest developers of retail parks in Poland, having developed 33 parks to date, including three in a joint venture with Patron Capital Partners. A fourth facility - a recently built retail park in Zambrow - will also soon be sold to the investor's portfolio. In 2022, Trei opened 3 new Vendo Parks - in Otwock, Skarżysko-Kamienna and Mielec. Seven more are planned this year, including in Krakow, Łapy, Gorzów Wielkopolski, Konin and Lubin in Lower Silesia. In addition to commercial real estate, the company also has residential investments: the Kraft estate in Lodz and Bacciarellego 54 in Wroclaw, which in total delivered nearly 470 apartments to the market, the company announced..

"Trei Real Estate Poland is a recognizable brand in the domestic retail market. Our goal for the near future is to strengthen our position in the residential sector. This year we will launch four new projects offering apartments for sale in Warsaw, Milanowek, Lodz and Wroclaw. We will also make our debut in the PRS segment, launching a total of more than 1,000 units available for institutional rental in Warsaw and Poznań," said Jacek Wesolowski, managing director in Poland.

Trei is currently building a total of 6,000 residential units. The largest number is in the United States, where a total of 2,450 units will be delivered to the market in eight projects located in southeastern states. In Poland, a total of 2,100 units will be built in eight projects. Germany ranks third in terms of the number of residential units from Trei, with 1,450 units in twelve projects, the company said.

Trei Real Estate's project portfolio in all markets grew by 18% y/y to €2 billion by the end of 2022, with residential properties accounting for 1.8 billion and retail properties accounting for 200 million.

Trei Real Estate of the Tengelmann Group focuses on real estate investment and development in Germany, Poland and the United States. Under the Vendo Park brand, the company builds and leases retail parks in Poland. Trei is also active in the residential market.

Source: Trei Real Estate and ISBnews