KAJIMA ACQUIRES ITS THIRD STUDENT DEPOT SITE IN WARSAW

Kajima Europe has acquired Student Depot's third development site in Warsaw. This acquisition brings the total number of buildings operated and secured to 12, reinforcing Student Depot's position as Poland’s leading developer and operator of student accommodation.

Situated in the heart of the Wola district, Warsaw Ciołka Street will provide 628 rooms and market-leading amenities across eight floors, totaling 10,100 sq m of Net Lettable Area (NLA). Student Depot will dedicate the ground floor to concierge and amenity spaces , including a co-working hub, games room, gym, lounge, entertainment space, and retail spaces.

Today, Student Depot is home to nearly 4,200 students across key university cities, including Warsaw, Kraków, Poznań, Lublin, Wrocław, Łódź and Gdańsk. There are a further 1,500 beds in the secured pipeline, including the ongoing expansion of Student Depot Poznań, which will double Student Depot’s presence in the city, and a second project in Gdańsk which is secured and pre-construction.

Construction on Warsaw Ciołka Street is expected to start in March 2025, and open in September 2026.

Jan Trybulski, Head of Poland, Kajima Europe, said: "The acquisition of another prime project in Warsaw aligns seamlessly with our portfolio expansion strategy for the Student Depot platform. Kajima’s strong commitment to the Polish PBSA market, combined with its proven track record in managing student housing assets in Poland, will be instrumental in ensuring Student Depot’s continued exceptional performance. We are dedicated to maintaining our market-leading position, not only in terms of the number of beds but also through operational excellence and unique understanding of the local market."

Michal Obara, CEO of Student Depot, said: "Our third site in Warsaw marks another significant milestone for Student Depot as the largest and longest-standing developer and operator of PBSA in the Polish market. We look forward to working with Kajima Europe to continue our successful track record for occupancy and rental growth."