ResiPlatform is a vertically integrated build to rent real estate manager specializing in all living sectors.
Founded by CEO Jason Drennan & Conall McGuire COO, both of whom have over 20 years real estate experience working with world-class partners & a track record of delivering exceptional results.
PARTNERS
Senior advisor & executive with 15+ years multi-sectoral real estate experience. Jason has executed EUR10b+ of transactions in various jurisdictions in Europe & the US.
In 2020 he established Heimstaden’s office in Poland and led its development & investment programme for circa 4.4k apartments in 5 cities.
Most recently, helped establish Cavatina’s residential & build-to-rent platform in Poland. Jason is a qualified chartered accountant with a degree in Business & Finance from DCU.
Jason Drennan
Founder/CEO resiPLATFORM
Conall McGuire
Leach & McGuire
CEO of Leach & McGuire, Conall is
a graduate of DIT Dublin who moved
to Poland in 2001. In 2004 established Warsaw Properties as a platform providing services to private foreign investors on Polish residential market.
In 2016 launched Leach & McGuire, pioneering residential property management for institutional investors. Currently manages residential real estate portfolio of c. PLN 2 bln.
He has a proactive and immersive management style, keenly overseeing the day to day running of Leach & McGuire in all aspects of the operations such as leasing, property management, building administration and technical maintenance.
Fluent in both English and Polish.
TRACK RECORDS
2022/23
L&M extends cooperation with VDV by adding Steampark , Trio, Krakusa and Greendustry (total of 368 units) to their property management mandate. Heimstaden also select L&M to launch and manage their project at Orlinskiego (117 units) in Krakow Krakow. Two new mandates secured in Warsaw from Zeitgeist AM (180 units)
Jason established Cavatina’s new residential platforms, ResiCapital, a resi for sale business with circa 2k units under construction with gross sales value of PLN1b, and Cavare, its PRS development platform with pipeline of 3k units, gross value circa PLN1.8b
2021
In 2021 L&M were selected to provide letting and property management services for Heimstaden’s portfolio of Polish PRS projects starting with Unique Tower (136 units) and Moko Botanika (417 units) in Warsaw
Jason transacted with 4 leading Polish developers in 5 cities within 2 years. In 2021, closed the Spravia transaction for 2.4k units & advised NREP on its acquisition of BIK SA, a logistics company listed on Warsaw
2020
L&M introduced Heimstaden Bostad to the Polish market in 2020 when acquiring their first projects from Eiffage (640 units) and Marvipol (707 units) in Warsaw
Jason established Heimstaden’s business in Poland. Establishing pipeline of c. 4,500 units with a gross transaction value of PLN 2.8 bln. He led transactions with Marivpol & Eiffage in 2020
2019
2019 saw L&M start to take on responsibility for the letting and management of Van der Vorm Living’s (VDV) Polish portfolio beginning with their first investment in Poland, Oxygen on Wronia street in Warsaw
As MD of Oberon Securities, Jason advised a consortium on the $700ml bid for acquisition of the Plaza Hotel, NYC. Jason was also involved advising South Korean investors on acquisitions in NY & Miami
2018
L&M expanded its reach to the key regional city of Krakow to take care of Catella’s Trio PRS/PBSA project (291 units)
As a shareholder in the assets of Caelum Development, Jason arranged refinance & sale of multiple retail assets in Poland, circa EUR 100ml and managed its successful exit from Poland
2017
Leach&McGuire McGuire’s first major property management mandate was for the Catella European Residential Fund (formerly BERF Bouwfonds ) in 2017 with their 193 unit PRS project at Pereca street, Warsaw
Jason arranged EUR125ml refinance of Parklake, a circa 70k GLA destination shopping centre in Bucharest, Romania. Jason subsequently arranged the sale of 50% of shares in Parklake to Sonae Sierra
OUR SECTORS
Residential Market
The private rental sector including institutionally managed homes is circa 1 million in Poland, less than 7.5% of the total housing stock. Institutionally owned & managed stock is circa 11,000 units, 1% of the private rental stock. This creates a massive opportunity to provide the security, comfort & flexibility of renting from an institutional landlord who is focused on providing rental housing in Poland.
Private Rental Sector
The institutional PRS sector, while still an emerging asset class, now has recognized & established operations in the market, bringing investors rental and operational evidence to support further investment.
We believe the potential growth is significant for this market, with a) 1million + units being offered in the private market under a wide variety of standards & landlord interference; b) the growing trend of young professionals choosing renting over buying; c) growing foreign student population; d) economic migrants; e) continued urbanization trends; f) process of household singularization; g) working from home trends since Covid-19; h) as well as the significant refugee migrants from eastern countries. The requirement for rental housing has never been more apparent
PBSA
Poland has the 5th largest student population in Europe yet one of the lowest provisions of student accommodation with total supply reflecting a provision rate of 10% with only 0.8% institutional PBSA. Since 2014, international students have doubled in Poland, and this upwards trend is expected to continue due to quality of life, transportation and excellent educational facilities.
While this is a relatively new asset class, there is limited competition, and we believe there’s an opportunity to create a best-in-class student house concept. In Warsaw alone, there are 240,000 students, of which 26,000 are overseas, with only 16.500 beds being offered.
Senior Living
This is an emerging segment of the market that we believe will be the new living investment opportunity with the right location and business model. Newly affluent middle-class want to provide comfortable living conditions for their parents.
OUR APPROACH
Our approach is top down & bottom-up investment & design process:
Our founders are leading European experts in creating BTR platforms, and Leach & McGuire, who manage 3.5k units across Poland, make us one of the leading PRS & PBSA operators in the market.
TOP-DOWN
- Overall market assessment
- Understanding demand/supply dynamics
- Assessing micro-location’s critical infrastructure
- Qualityof life potential in locations
- Barriersto entry to protect capital value in the future
- Research income in the catchment study
- Creating tenant profile
- Affordability outlook
- Future build projects that could positively or negatively affect the project
BOTTOM-UP
- Zoning assessment to understand if we can create an optimal project for rental purposes
- Living useable area to commercial area ratio
- Car park ratio
- Density studies
- Potential constraints of the zoning plan
- Review neighbouring buildings
- Build an optimal living project that meets our financial objectives while satisfying quality of living criteria.
Top-down & bottom-up design process run in tandem supporting each other until we satisfy our investment criteria to commence design and financial underwriting
3 STRATEGIC
PILLARS
FULL CYCLE APPROACH
from sourcing land, creating optimal design, permitting, managing the build process, to operations & exit
PERPETUAL THINKING
we approach financial underwriting, design and operations with the very long term In mind
INTEGRATED MANAGEMENT
from the initial transaction to exit, we oversee the complete program, complimented by comprehensive institutional reporting
ResiPLATFORM is an investment, development, asset and operational manager, offering investors a best of breed approach without conflicts in CEE markets.
Previous Transactions
Project AURORA - Dantex
Circa 400 residential units (19,500 sqms), 4 buildings
Project UNIQUE - Marivpol
707 residential units (32,536 sqms) and circa 1,000 sqms of commercial units MOKO Botanika, Studio Okecie & Unique Tower D, all projects now operational.
Project VELIZY - Eiffage
Circa 633 residential units (22,000 sqms), 296 parking units and 2,065 sqms of commercial units at Postepu 5A & Bialostocka
Project Marynarska Living Partnership
Circa 1,000 residential units (30,000 sqms) and 1,000 sqms of commercial units at Marynarska Warsaw
Project Quorum E - Wroclaw, Sikorskiego st.
Total residential area 5 015 sqms Leisure area 613 sqms
Nr of apartments 193
Project WODNA- Cracow, Wodna st
Total residential area 16 788 sqms Nr of apartments 521
Average apartment area 32,22 sqms Nr of parking spaces 202
Project HOUSE- Spravia
Circa 2,500 residential units, 130,000 sqms of residential area, circa 4,000 sqms of commercial space, projects in Warsaw, Gdansk, Poznan, Wroclaw & Krakow.