LIVUP FINALIZES THE PURCHASE OF A RESIDENTIAL PROPERTY IN KRAKOW

LivUp, one of the first investor and operator on the Polish PRS market, has finalized the purchase of a property in Krakow from Galinvest. The new LivUp project will include about 80 residential apartments for long-term rental, as well as an additional amenities and facilities. The first tenants are expected to move in at Q2/2023.

The new investment purchased by LivUp is located at the intersection of Zaczarowane Koło and Rydla Streets in the thriving Bronowice district of Krakow. The property is embedded within an established residential neighborhood, conveniently located only 50 meters from a tram stop, which lead to Krakow city center in less than 15 min. The building has already achieved occupancy permit and fit-out works are scheduled to start soon.

– The diversification of LivUp portfolio is a significant step towards implementation of our strategy. We are happy to be able to allow more clients to benefit from a unique life-style city experience, long-term stability and state-of-the-art amenities and facilities – similar to the services we provide to all of the tenants in our portfolio. The success of LivUp projects confirms that the PRS sector is starting to play an integral role in the residential market and LivUp’s solutions are able to address the tenants needs,” informs Roee Shamir, LivUp CEO.

The Krakow property has been purchased from Galinvest – an experienced developer, which has been operating on the Krakow real estate market for more than a decade.

– We are actively looking for further investment projects in attractive locations. Our company’s goal is to have several thousand apartments for a long-term rental in the major regional cities in Poland. Currently, we turn the spotlight on Warsaw and Krakow, the 2 cities in which we already have substantial operation – with approximately 800 units, but in the future, we might consider entering additional cities,” notes Roee Shamir.

LivUp is currently operating in Warsaw by offering apartments in two locations: Jagiellońska 36 and Pulawska 186 – where nearly 300 units are fully rented to the satisfaction of our clients. Next year, LivUp plans to expend its offer in the capital with additional 160 flats in Targowa 17 property, which is scheduled to be launched in Q2/2023.