Wednesday, 11 February 2026
Cavare S.A., part of the Cavatina group, has entered into a forward funding transaction with the NSF VI fund managed by Urban Partners, covering the sale of the Palio C property on Jana z Kolna Street in Gdańsk and an agreement for Cavare to manage the delivery of a private rented sector (PRS) scheme on the site. The project provides for the construction of a residential building offering fully furnished units in an institutional rental model, which is expected to operate under the Lett brand.
The planned development will comprise 336 residential units with a total net leasable area of 10,177 sq m, complemented by 495 sq m of service space. The unit mix is primarily designed for single and two-person households, and the building will include shared amenities such as a gym and co-working areas.
Cavare S.A. is overseeing the project under a Development Management Agreement (DMA), with completion currently scheduled for the fourth quarter of 2027.
Commenting on the transaction, Bartłomiej Wentlandt, Managing Director of Cavare S.A., said: “This is another important step for us in the development of our PRS business and confirmation that the forward funding model of cooperation with institutional investors is beneficial for both the developer and the investor. Thanks to this, the project will be implemented to a high standard in line with our standards, and future residents will receive products that meet their location and functional needs.”
Magdalena Terefenko, Vice President at Urban Partners, added: “The investment in the Palio C project is another step in the implementation of our long-term strategy of building a sustainable institutional rental portfolio in the largest Polish agglomerations. Gdańsk, as a dynamically developing city with strong demographic and economic foundations, fits perfectly into this direction. Working with a partner such as Cavatina allows us to combine our development experience with our investment approach, which focuses on creating high-quality living spaces. We see significant growth potential in the PRS segment in Poland and are convinced that projects such as this one will play an increasingly important role in shaping the modern housing market.”
Upon completion, the scheme will operate under the Lett brand, Urban Partners’ residential platform focused on professionally managed rental housing in major Polish cities. The concept emphasises quality standards, transparent rental terms and access to shared amenities designed to support urban living.
Cavare S.A. was advised on the transaction by CBRE and Dentons, while Urban Partners was supported by CMS Cameron McKenna, MDDP and Savills.
The project is viewed as part of the continued expansion of Poland’s institutional PRS market, a segment that has been recording steady demand growth in the country’s largest urban centres.
