Nuveen Real Estate and Value One open Prusa 9, a new student housing project in Wroclaw Olbin
The asset represents the first new-build project in Poland for the pan-European student housing joint venture following successful projects in Vienna and Porto.
Vienna/Wroclaw (OTS) - Using Nuveen Real Estate’s bespoke city focused research strategy, Prusa 9 is in walking distance to several universities, the river and the old town, making it an ideal location for a PBSA project. The object is also characterized by a strong focus on sustainability and ESG credentials. Value One applied for a BREEAM Very Good certificate (TBC). The new building was constructed on the site of a former parking lot, which meant that no additional area was sealed.
MILESTONE Student Living offers several advantages over conventional student housing. The premium student living concept offers fully furnished, move-in ready design apartments close to campus and the city centre. In addition to a private room with stylish furnishing and smart storage ideas, the MILESTONE buildings are designed to help students make new contacts and find friends for life. The MILESTONE experience is rounded off by a transparent all-in fixed price for the entire contract period protecting students from price changes and helping them plan their budgets, so they don’t have to worry about rising energy costs.
Limor Shklaz, Director at Nuveen Real Estate, comments: “Well-aligned with Nuveen Real Estate’s objective to create and protect assets for tomorrow’s world, Prusa 9 has been designed with a keen focus on maximising natural light, improving energy efficiency with the use of solar panels across the roof, and targeting strong sustainability credentials. This asset forms part of the Eagle Partnership portfolio, that was recently awarded a 5-star GRESB rating for 2022, and was ranked first amongst 49 submissions in its peer group in the GRESB Residential Non-Listed Value-Add category.”
Andreas Köttl, Value One CEO, sees a lot of potential in the student living segment, especially in Poland: "The demand for contemporary student living solutions is growing rapidly and Poland in particular is one of the strongest markets. Our far-reaching expansions are right in line with the times, which strengthens our resolve. We will continue our expansion plans in Europe's growth markets, with the aim of being at the forefront of the Serviced Living and Student Living sectors."
Since the beginning of the conflict in Ukraine, the city's population has increased by 29 percent. Wroclaw had already grown steadily in the years before, and now new housing is of greater importance than ever. Value One and MILESTONE are making an important contribution to relieving the housing market and a vulnerable segment by implementing their projects in Wroclaw.
Another project on the home stretch
The opening of the 133 new beds will be followed by MILESTONE's next project in Wroclaw. More than 500 additional beds will be added in a flagship property in the city’s up and coming tech district in Fall 2023, bringing the number of MILESTONE beds in Wroclaw to almost 800.
About Value One
Value One, headquartered in Vienna, develops and operates exceptional real estate and urban neighbourhoods that are a joy to live in. In the three business units Development, Operations and Digital Solutions, more than 200 employees work on the realization of our visions. Over the past 20 years, Value One has realized outstanding properties worth around two billion euros in five European countries. Considering our ESG strategy, exceptional living spaces are designed and preserved for future generations. Currently, more than 7,000 people live and work in our properties. Vienna's Viertel Zwei urban development and our MILESTONE premium student apartments across Europe are just two examples of the new standards we are setting. www.value-one.com
Nuveen Real Estate is one of the largest investment managers in the world with $156 billion of assets under management. Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing. With over 85 years of real estate investing experience and more than 740 employees* located across 30+ cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise. For further information, please visit us at nuveen.com/realestate
*Includes 370+ real estate investment professionals, supported by a further 370+ Nuveen employees. Source: Nuveen, 30 Jun 2022.