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TAG "you're it" and goodbye Vantage

Alex Hayes 08 November 2019

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

TAG "you're it" and goodbye Vantage
Port Popowice is one of the largest of Vantage's current projects
POLAND TAG Immobilien is to enter Poland by acquiring Vantage Development and has announced a tender for all of the company’s outstanding shares.

On purchase of the company and after its delisting from the Warsaw Stock Exchange the commercial real estate business is to be split from the residential development business and sold back to the original shareholders. In total the deal is valued at EUR 131 mln with the commercial real estate business valued at EUR 46 mln, which means that in total TAG expects to pay EUR 85 mln. The deal is subject to regulatory approval.

Vantage Development is a leading real estate developer based in Wroclaw. TAG has stated it wants to enter Poland’s nascent PRS (private rental sector) market an build up a rental portfolio of up to 10,000 apartments in Poland. The deal is expected to close in Q1 2020.

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