They sold over 5,000 to Germany apartments for rent. For echo it is not the end of the project
“According to the echo group's profitable growth strategy, We sell selected mature assets in the Living areasimultaneously focusing on the implementation of new projects and caring for our stakeholders. Importantly, we remain fully involved in strengthening the activities in the apartment rental segment and in the development of the rest of the RESSI4RENT portfolio of about 4.5 thousand. premises. Of this, 3.8 thousand We plan to put into use as early as 2026, which emphasizes the high efficiency and long -term potential of the platform, “said Mazurczak, quoted in the announcement.
“A successful transaction with Vantage Development, part of the Immobilien Group Tag, confirms that our alternative real estate investments attract leading strategic investors” – he added.
Transaction worth PLN 2.4 billion (i.e. the equivalent of EUR 565 million) includes 5322 premises in 18 projects located in the six largest Polish cities. The purchase price corresponds to the expected future NOI rate (net operating income) specified at 6.3 percent. until 2026, when the real estate completed in 2025 will achieve “full stabilization”. The parties signed a preliminary contract, a Its implementation requires the standard consent of the Polish antitrust body – also served.
Resy4rent is a joint venture company Echo Investment (30 % of the shares) and the Global Investment Fund (70 percent of shares), which is advised by Griffin Capital Partners. The platform currently manages about 10,000 premises at various stage completion and stability in the largest Polish cities – Warsaw, Krakow, Gdańsk, Wrocław, Łódź and Poznań. After completing the transaction, the RESI4RENT portfolio will cover 1.7 thousand. completed premises, 2.2 thousand under construction and over 600 projects planned as part of the secured bank.
Funds obtained by Echo Investment, whose main shareholder is Wing, will be allocated for the reduction of the group's debtfinancing new projects and payments for shareholders – we read further.
10 thousand apartments for rent
“The acquisition of Resy4rent assets will allow us to expand our current offer of high -quality apartments for rent in six large cities to 8.7 thousand apartments as part of the Vantage Development. Thanks to about 1,450 units under construction, whose completion is planned for 2026, we will achieve before the date The strategic goal of our shareholders, which is 10,000 apartments for rent under the Vantage Rent brand. Guided by the long -term potential of the growth of the Polish apartments market for rent, we are still focusing on further expansion and increasing the value we provide our tenants, “said Vice President of Vantage Development and Robyg Dariusz Pawlukowicz.
Echo Investment is a Polish developer who implements investments in three sectors of the real estate market: housing, commercial and office. Since 1996, the company has been listed on the WSE. It is included in the SWIG80 index. In 2024, it had PLN 1.08 billion in consolidated revenues and PLN 14.1 million net loss. In the first quarter of this year. There was also a loss of PLN 85.4 million net, of which the Res4RENT project gave PLN 10.8 million net profit. At the end of March, the company's obligations exceeded PLN 5 billion (including over PLN 410 million in the Resi4rent project liabilities) at PLN 1.6 billion of equity (including PLN 313 million Res4rent).
Resy4rent is the largest company in Poland offering apartments in the subscription. It has been operating since 2018. About 18,000 resident of the Fully furnished and equipped premises of Res4rent. people.
Tag Immobilien has been operating on the Polish housing real estate market since 2020 and is present both in the rental segment and the sale of apartments through Vantage Development and Robyg, which it owns.
