EUROPE Trei keen to grow further as portfolio value soars
Investment & financeResidential real estate makes up the bulk of the total, valued at EUR 1.5 bln, while retail accounts for app. EUR 200 mln. The value of Trei’s assets under management, including its own property portfolio, remained unchanged at EUR 1.3 bln. Its own portfolio accounts for EUR 1.2 bln out of this total, while app. EUR 100 mln is managed under third-party mandates.
We continued to pursue our expansion trajectory in 2021 despite the fact that the obstacles caused by the coronavirus pandemic remain in place. In the residential sector, we have prepared a number of new projects while making good progress with our ongoing developments. The growth of our foreign activities is currently outpacing the business on our home market of Germany. Especially in the United States, we initiated numerous new developments in the last few years, and in Poland, too, new projects are in preparation in addition to the developments already underway. Last year, Poland’s residential property market broke every record. The demand for modern apartments is enormous, whereas the supply side still remains rather small-scale.
Pepijn Morshuis, the CEO of Trei Real Estate
Trei’s developments in Poland are progressing on schedule. It currently has two projects under development, one in Wrocław (the fourth and final construction stage) and another in Łódź (the second of four construction stages). Another three projects, located in Warsaw, Poznań and Milanowek (near Warsaw), are in preparation.
Trei also currently holds a portfolio of 39 Vendo Parks in Poland, the Czech Republic and Slovakia. 29 of these assets are located in Poland, with eight new retail parks completed and opened last year (Zielonka, Piekary Śląskie, Koszalin, Myślibórz, Oświęcim, Inowrocław, Chorzów and Radzymin). Since November, Trei has been developing some of its retail parks in Poland together with its joint venture partner Patron Capital Partners.
Retail parks of the Vendo Park brand remain an important part of our strategy. Demand for retail parks has turned out to be stronger than expected, particularly in smaller Polish towns. We will soon achieve the objective of holding 50 Vendo Parks in our proprietary portfolio, but see potential for further developments in Poland, which is why we are planning to construct another 15 to 20 Vendo Parks in a combined value of 140 million euros together with our joint venture partner Patron.
Matthias Schultz, the CFO of Trei Real Estate
The company has 324 assets under management, with Germany and Poland accounting for the bulk of these (almost 80 pct).
An open door to redefining the commercial real estate market in Poland
An open door to redefining the commercial real estate market in Poland
Walter Herz
The investment slowdown in the commercial real estate sector that we have been observing in Poland for over a year is primarily the result of the tightening of monetary policy arou ...
The retail sector is not slowing down
The retail sector is not slowing down
Walter Herz
The pandemic, conflict in Ukraine as well as inflation and high interest rates that recent years have brought have reshaped the real estate market around the world. The global slow ...
Retail parks – current opportunities
Retail parks – current opportunities
Avison Young
Over the last few years, retail parks in Poland were mostly developed in smaller formats, around 5,000 sqm, either adding to the existing retail landscape or introducing modern ret ...