Speedwell secures €23m loan for Polish PBSA project

Belgian real estate developer Speedwell has obtained a €23.5 mln loan from BNP Paribas Bank Polska to finance the Milestone Warsaw Mokotów project.

Milestone Warsaw Mokotów 

This marks the company's first loan and first purpose-built student accommodation project in Poland. 
The development, located on Obrzeżna Street in Mokotów, will offer 675 beds in 565 rooms and is scheduled for completion before the 2026/2027 academic year. 
The project aims for BREEAM certification, aligning with Speedwell's strategy to create sustainable urban spaces. 
Milestone Student Living, operating nearly 5,000 beds across Europe, will manage the facility.
Michał Stępień, country manager of Speedwell in Poland, said: “Securing financing from BNP Paribas Bank Polska is more than a financial agreement — it’s a strong vote of confidence in our vision and in our ability to deliver sustainable, high-quality developments on the Polish market. Milestone Warsaw Mokotów is a strategic response to the growing demand for student accommodation in Warsaw. We see student housing as more than functional space — it’s an opportunity to shape a vibrant environment where young people can thrive and grow.”
Marek Kowalski, head of Structured and Real Estate Department at BNP Paribas Bank Polska, added: "Supporting sustainable investments is part of our strategy and shows the trust that global real estate investors place in us. We are pleased to support Speedwell in implementing the Milestone Warsaw Mokotów project, which aligns with our commitment to financing ventures that have a positive impact on society and the environment."
In addition to the Milestone Warsaw Mokotów project, Speedwell is preparing a €200 mln premium residential development in Gdańsk with BPI Real Estate Poland. The 750-apartment project, encompassing 36,000 m2, is expected to start construction in H2 2025.