NREP introduces first apartments for rent under the Lett brand

· In late 2022, NREP made 116 fully furnished and equipped apartments available for rent at Kłobucka Street in Warsaw.

· It is NREP’s first completed residential investment in Poland.

· The first tenants moved in at the beginning of December, and the building is now nearly fully leased.

· The Lett Kłobucka building addresses the increasing demand for modern and fully-equipped rental properties on the Warsaw market.

The first NREP residential investment in Poland was completed at the end of 2022. On December 1st, the first tenants moved in and currently, there are only a few apartments still available for rent. Lett Kłobucka, situated in the Służewiec district of Warsaw, comprises of 116 apartments, 124 parking spaces, including 14 with electric charging stations, and 24 storage rooms. The building offers a variety of apartments such as studios and two, three, and four-bedroom units, catering to the diverse needs of tenants - be it single individuals or families with children.

The apartments are fully furnished and equipped with a range of amenities for comfortable living, such as TVs, curtains, and lamps. Each apartment boasts a balcony, and those on the ground floor have access to a private garden. In addition, residents can take advantage of the building's shared amenities such as the roof terrace and adjacent green space. The decor features a neutral color scheme to accommodate various personal styles. The apartments are designed with functionality in mind and are fitted with ample built-in wardrobes, washing machines, and modern kitchen appliances. The functional design of the apartments ensures that even even studio apartments feature clearly defined areas for cooking, sleeping, and living. Pet-friendly policies are also in place.

Lett is a brand under which the Scandinavian investor NREP will be offering rental apartments in Poland. “Lett apartments are modern, comfortable, and offer an attractive value. Our goal is for tenants to feel at home, which is why we provide functional amenities, access to common areas, and adequate infrastructure. We also prioritize a positive tenant experience. Our contracts are straightforward and do not include any hidden fees or commissions. The leasing process and property maintenance are overseen by a professional team dedicated to ensuring a smooth experience for our tenants,” said Maciej Piotrowicz, Head of Living Investments at NREP Poland.

“The "Lett Kłobucka" building addresses the high demand in Warsaw's market for comfortable, well-appointed and reasonably priced rental units. This is evidenced by the fact that the building was nearly fully rented out within just a few weeks. We are planning to offer more Lett-brand apartments in Warsaw's Bemowo district this year” added Maciej Piotrowicz.

The developer of the property is YIT, while the property management is handled by MVGM and the leasing agent is Hamilton May.