Over 5,000 units from the portfolio of Resi4Rent – a major institutional residential rental provider in Poland – are set to be acquired by a new owner. Upon completion of the deal, 18 completed Resi4Rent developments will be acquired by Vantage Development, part of TAG Immobilien Group, a Hamburg-based real estate company. The transaction is valued at PLN 2,405 million (€565 million) with a forward-looking NOI yield of 6.3%. Both Echo Investment and Griffin Capital Partners remain committed to developing the remaining Resi4Rent portfolio and expanding it further over time.
The transaction includes 5,322 units in 18 projects located in six major Polish cities. The purchase price corresponds to an expected forward-looking NOI yield of c. 6.3% in 2026, (implying forward forward-looking NRI yield of c. 6.8%), when the properties completed in 2025 are fully stabilised. The parties have signed a preliminary agreement, and the transaction is subject to customary approval by the Polish antimonopoly authority.
Resi4Rent is a joint venture between Echo Investment (30% share) and a global investment fund advised by Griffin Capital Partners (70% share). The platform currently has c. 10,000 units at various stages of development and stabilisation in six major Polish cities – Warsaw, Krakow, Gdansk, Wroclaw, Lodz and Poznan. Following the closing of the deal, the Resi4Rent portfolio will include 1,700 operating units, 2,200 units under construction, and more than 600 planned units in the pipeline.
“We remain fully committed to growing our accommodation rental business and developing the remaining Resi4Rent portfolio of approximately. 4,500 units. Of these, 3,800 units are expected to be operational already in 2026, underscoring the strong performance and long-term potential of the platform. The successful deal with Vantage Development, part of TAG Immobilien Group, confirms that our alternative real estate investments attract leading strategic investors,” says Rafał Mazurczak, COO of Echo Investment.
The funds raised by Echo Investment, majority-owned by Wing, will be used to reduce the Group’s debt, finance new projects and will be distributed to shareholders.
“At Griffin, we believed for a long time in the attractiveness of the living sector, creating the first and market-leading institutional PBSA and PRS players in the Polish markets. We view the Polish accommodation rental market as one of the most compelling investment opportunities, driven by a persistent housing shortage and strong demand for professional, convenient, and flexible living solutions”, comments Tomasz Kosieradzki, Director at Griffin Capital Partners.
“The acquisition of the Resi4Rent assets will expand our existing high-quality rental portfolio in six major cities to 8,700 apartments under Vantage Development’s management. With c. 1,450 units under construction and scheduled for completion in 2026, we will reach our strategic goal of 10,000 rental units under the Vantage Rent brand ahead of schedule, as set by our shareholders. Driven by the long-term growth potential of Poland’s rental housing market, we remain focused on further expansion and on enhancing the value we provide to our tenants,” comments Dariusz Pawlukowicz, VP at Vantage Development and ROBYG.
TAG Immobilien has been active in the Polish residential real estate market since 2020 and is already represented in both the rental and the sales segments through ownership of Vantage Development SA and ROBYG SA platforms.
