The first three properties completed in 2016, 2021, and 2022 respectively, represent a combined brut development value of over €50 million. The 4th property, Park View, with 81 apartments for rent, is located adjacent to Tineretului Park and has a brut development value of over €15 million.
We Rent Communities financed all properties with direct investment and loans from local banks.
“Our success in the RO market was built on our desire to create affordable, luxury communities with first-class amenities in premium areas of Bucharest. We have always believed in the power of the community concept and we are committed to investing in future growth of We Rent Communities in Romania as we anticipate a favorable economic environment and a growth demand for flexibility of lifestyle, while enjoying quality housing. We continuously strive to innovate and adopt our value proposition to the changing needs of the Bucharest market. We Rent Communities remains synonymous with modern living”, says Kim Vrânceanu, President of We Rent Communities.
The ”Build to Rent” concept is well established internationally, however, it is new to Romania. We Rent Communities, a company with 100 % American capital, is the largest developer of apartments dedicated exclusively to residential rentals, shaping the standard for residential rental in Romania.
“Drawing on the Real Estate knowledge from the USA, we realized the Romanian market did not have a proper offering for the residential rental market. In 2014 we decided to be the leader in the “Build to Rent' residential sector in Romania, and in 2016 we inaugurated the first property of the We Rent Communities platform”, explains Violeta Niculae, Executive Director of We Rent Communities, the first dedicated residential rental-only property developer with assets in excess of €60 million.
“When we decided to embark on this journey in Romania, our goal was to fill a gap in the real estate market by offering a dedicated residential rental solution without sacrificing any of the amenities and luxuries of modern urban living. All of our properties stand out because they prioritize the unique lifestyles of the tenants through flexibility, comfort and affordable luxury,
With the We Rent Communities, we have gone further than building and renting apartments, we are creating true community” adds Violeta Niculae.
We Rent Communities has been managing residential apartments exclusively for rent since 2016 and is currently the largest developer and operator of multifamily residential rental properties in Romania. The assets operated under the We Rent Communities platform have a brut development value of more than €60 million, including Vitan Estates I, Vitan Estates II, Vitan Estates III and Park View Estates. More than 500 apartments are in the planning stage and will be added to the We Rent Community platform.
