Real estate advisory company JLL has acquired the Polish residential market consultancy firm REAS, which will be responsible for developing living services in Poland and throughout Central and Eastern Europe.
As the residential market in Poland has been on the increase for a number of years, JLL has realised that the two segments of the real estate market, commercial and residential, could not function in parallel anymore. Investors that have been primarily focused on the commercial real estate market are now analysing 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 of 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 experience and role of REAS will contribute to the development of these services throughout Central and Eastern Europe, making of JLL the first company on the Polish market to handle all sectors of the real estate business.
“We are very much looking forward to the possibility of co-creating and implementing a strategy that is aimed at increasing JLL’s presence in the residential sector. The aim of REAS is to further develop, and deepen its 10-year co-operation with JLL,” commented Kazimierz Kirejczyk, president of the board at REAS.
“Operating within the structures of a large global partner enables us to accelerate the expansion in the scope of services not available thus far in Poland as well as the possibility to develop on international markets.”
“We will provide the market with a wider range of services at all stages of the investment process. However, rest assured, our existing customers will continue to receive ‘the peace of mind’ that cooperation with REAS’ well-known and proven team brings,” added Paweł Sztejter, vice president REAS board.