Scandinavian real estate investor Nrep has expanded its presence in Poland with the acquisition of a third co-living property in Gdańsk. The newly added facility, Noli Gdańsk Old Town, is located in the historic Red Barracks on Łąkowa Street, near the city’s Old Town. Developed by Moderna Holding, the project was completed under a forward purchase agreement signed in 2023 through Nrep’s NSF V fund. The building includes nearly 400 fully furnished studio apartments, as well as shared amenities such as coworking spaces, a gym, sauna, communal kitchen, and laundry facilities. The concept combines private accommodation with services typically found in hotels, catering to both short- and long-term residents. According to Nrep Poland Head Maciej Piotrowicz, the acquisition aligns with the company’s strategy to grow its Noli Studios co-living platform in high-demand urban locations. He noted that Gdańsk offers a mix of economic growth, rising housing demand, and tourism appeal, making it an attractive investment destination. Nrep emphasized that sustainability is a central component of the project. The building features a high-efficiency heat recovery ventilation system, geothermal wells over 13 kilometers deep, photovoltaic panels, and a building management system to optimize energy use. It is also the first historic property in Poland to be redeveloped in line with sustainable principles and certified with BREEAM standards. Magdalena Terefenko, Vice President of Nrep Poland, highlighted that the integration of environmental considerations from design to operations reflects the company’s long-term investment vision. The redevelopment sought to balance heritage preservation with modern efficiency and low environmental impact. Moderna Holding’s CEO, Adam Małaczek, described the project as a significant restoration effort, noting the complexity of adapting the century-old structure while exceeding current sustainability standards. This is Nrep’s fourth Noli Studios location in Poland, following facilities in Gdańsk Wrzeszcz, Gdańsk Riverside, and Warsaw Mokotów. The platform now includes over 1,100 units, with additional developments underway. Nrep also operates the Lett rental housing platform in Warsaw, offering apartments in Praga Północ, Mokotów, and Bemowo. Nrep was supported in the transaction by CMS (legal advisor), Avison Young (technical advisor), and Koda (tax advisor).