Friday, 3 October 2025
Syrena Real Estate has completed the sale of its first private rented sector (PRS) project, located at 171 Wolska Street in Warsaw. The buyer is Belgian firm Xior Student Housing NV, a listed company specializing in student housing across Europe. The transaction was valued at EUR 12 million, making it the second recorded sale of a fully stabilised PRS asset in Poland.
The property, situated at the intersection of Goleszowska and Wolska streets, marked Syrena’s first independent venture in the PRS market. The company acquired the site from Dantex Holding in October 2022 and funded the purchase using its own capital. Finishing works and commercialisation were completed within two months, and the building remained nearly fully occupied throughout the ownership period. During that time, rental rates increased by 33%, with all leases denominated in euros.
According to Witold Zatoński, founder of Syrena Real Estate, the company achieved a 35% return on capital within two years. He noted that stabilised, income-generating PRS projects in Poland are proving to be attractive to long-term investors, particularly due to the steady performance of residential rental income compared to other commercial real estate segments.
The building contains 117 fully furnished, air-conditioned apartments and 400 square meters of ground-floor retail space, which is currently leased to the LUX MED Group for a dental clinic. The property is located 200 meters from a tram stop, offering convenient access to central Warsaw and nearby universities, including the University of Warsaw and the Medical University of Warsaw.
Artur Kaźmierczak, a partner at Syrena Real Estate, commented that the transaction reflects a broader trend of increased liquidity in Poland’s PRS sector. He added that while the firm is exiting this particular property, it remains active in the residential rental segment and is continuing to pursue projects in both PRS and purpose-built student accommodation (PBSA).
Xior Student Housing operates in eight European countries and manages over 21,000 beds across 42 cities. In Poland, the company is already active in Warsaw, Katowice, Łódź, and Kraków, and plans to enter the Wrocław market in the near future.
