According to the Polish daily Rzeczpospolita, the landmark transaction on Poland’s Private Rented Sector (PRS) market was concluded by Vantage Development, part of Hamburg-based TAG Immobilien Group.
The company is set to acquire 5,322 completed units for rental in six major cities, including Warsaw, Kraków in the south, Łódź in central Poland, Poznań in the west, the Baltic port city of Gdańsk, and Wrocław in the southwest.
The seller is Resi4Rent Poland, which operates rental housing across the country’s largest cities. It is a joint venture between Polish developer Echo Investment (30%) and U.S.-based investment fund PIMCO (70%), advised by Griffin Capital Partners.
Although formally registered in Poland, Resi4Rent has a majority foreign ownership structure, with PIMCO holding a controlling stake. The company is fully focused on the fast-expanding PRS market, which has drawn growing attention from international investors.
(mp)
Source: rp.pl