JLL has entered the residential market, acquiring REAS, a residential consultancy in Poland.
REAS will be responsible for developing Living Services in both Poland, and Central & Eastern Europe.
The commercial and residential markets have been functioning in parallel. However, the activity of international developer groups and investment funds on the residential market in Poland has been on the increase for a number of years. Importantly, investors that have been primarily focused on the commercial real estate market are now analyzing the potential and opportunities offered by the residential sector. Apartments are becoming fully fledged investment products and more frequently complement commercial real estate portfolios.
“Working closely with REAS will allow JLL to have competence in all areas of the real estate market, in which the residential segment plays a key role,” said Tomasz Trzósło, managing director, JLL Poland. “Recently, Poland’s residential sector has seen the development of commercial opportunities, including apartments for rent and dorms, which have begun to attract the interest of institutional capital. JLL’s decision to expand its expertise in this area is in response to market trends and the business needs of our clients.”
The entire REAS team will continue its activities within the structures of JLL in Poland, under the brand name REAS | JLL Residential Advisory.
The founders of REAS will take up senior positions in JLL in Poland: Kazimierz Kirejczyk will act as vice president of the board at JLL Poland, while Paweł Sztejter will serve as the executive director responsible for managing the REAS team and the JLL Living Services.
