A Polish residential rental provider Resi4Rent, partly owned by Echo Investment, agreed to sell some real estate assets to TAG Immobilien’s unit for €565 million ($660 million).
The deal, which Echo Investment called “record-breaking” in Poland’s home rental market, is still subject to regulatory approval, the company said in a statement on Saturday. It envisages Resi4Rent selling 5,322 units in 18 projects located in six Polish cities to Vantage Development, with an expected forward-looking net operating income yield of 6.3% in 2026.