Real estate company Heimstaden’s subsidiary Heimstaden Bostad AB has paid €304 million ($372.69 million) for a portfolio of mixed-use development projects in Poland. The seller was Budimex.
The portfolio, which is located in Warsaw, Krakow, Wroclaw, Poznan and Gdansk, consists of 13 projects to develop 2,496 apartment units, 5,202 square meters (56,000 square feet) of retail space and accompanying parking spaces. Construction will begin in 2021 and the projects would be completed between first quarter 2023 and first quarter 2025.
In a separate deal, Heimstaden acquired Soho Wharf in Birmingham, England, for €185.8 million ($227.4 million) from Apsley House Capital and Galliard Homes. This transaction marks Heimstaden Bostad’s entry into the U.K. real estate market.
The Soho Wharf project is part of a wider plan to expand Birmingham to the west, converting former industrial areas into new neighborhoods with generous public landscaping and high-quality arc
