On the road to success - from a railway company to a real estate company

TAG places 25 million ROBYG shares at PLN 34 per share and expects to generate around PLN 850 million (approx. EUR 200 million) from this. ROBYG receives around PLN 400 million (approx. EUR 95 million) from the issuance of a total of 12 million new shares. This results in an expected gross cash inflow of around PLN 1,250 million (approx. EUR 295 million) for the TAG Group. TAG will remain the majority shareholder of ROBYG with a stake of approximately 66%.

The 5,322 rental units acquired by Resi4Rent have a total usable floor area of approximately 177,700 sqm and are located in Poland’s six largest cities: Warsaw (1,755 units), Wroclaw (1,653 units), Poznan (571 units), Krakow (535 units), Łódź (506 units) and Gdansk (302 units). In total, these are 18 projects, which were essentially newly built over the past three years and are almost fully let, with a vacancy rate generally of only around 2%.

The rental portfolio is located in major Polish cities such as Wrocław, Poznań and Łódź. Furthermore, a total of around 3,600 residential units were sold in the sales business in the 2023 financial year.

TAG's long-term growth target is to build up a portfolio of c. 20,000 residential units in Poland. In the medium term, i.e. by the end of 2028, the rental portfolio is to grow to c. 10,000 residential units.

In addition, the existing sales activities in Warsaw, Tricity, Wrocław and Poznań will continue and excess liquidity generated will be used to support further rental portfolio growth.

At the time of the acquisition, ROBYG was Poland’s largest residential real estate developer with a focus on the country’s major cities. In the last 20 years, the company has completed and handed over more than 26,000 residential units.

On the 8th of November 2019 TAG signed an investment agreement to acquire 100% of the shares in Vantage Development S.A., a leading real estate developer focused on the economically strong region of Wroclaw in the western part of Poland. The secured residential pipeline currently consists of several residential projects in Wroclaw representing a total of c. 5,300 units.

TAG’s market entry in Poland marked a regional expansion of the business model. Poland’s growing rental housing market is characterised by a supply shortage and offers attractive cash yields.

The new report explains the strategies pursued for key aspects in the areas of business/economy, ecology, and social sustainability. The report supplements the Group’s financial reporting by covering material non-financial aspects of its sustainable business development for the reporting year.

Capital recycling strategy consistently continued. c. 5,000 units acquired in FY 2017 at an average acquisition multiple of 12.2x (8.2% gross yield).

Since 2015 our goal is clearly defined: to increase the company’s value longterm. One of the ways we achieve this is by strategically expanding and increasing the value of our residential property portfolio. We also ensure a healthy return on inventories to continually offer investors an attractive asset class.

Sale of TAG Gewerbeimmobilien GmbH in March 2014, consisting of 21 real estate properties with an area of approximately 270,000 m², to an Apollo Global Management fund. 

At the end of 2012, TAG Immobilien AG acquires 11,300 housing units with a regional emphasis in Berlin, Dresden and Rostock.

In March 2012, TAG Immobilien AG acquires DKB Immobilien AG with 25,000 units in Berlin, Thuringia and Saxony.

In February 2011, TAG Immobilien AG has exceeded the 50% capital stock threshold and the voting rights of Colonia Real Estate AG, and within the next year increases its share to 87% by the end of 2015.

At the beginning of 2010, TAG acquires the majority of FranconoWest. Squeeze-out procedure with delisting occurs in October 2011.

At the beginning of 2002, TAG takes an 87.9% share in Bau-Verein zu Hamburg AG. In the ensuing years, its share of the company continues to increase, and a squeeze-out procedure with delisting occurs in November 2012.

Concentration on the real estate business segment:
In November, TAG stock is listed for the first time in official trading on the Frankfurt/Main and Munich stock exchanges. In addition, the stock will continue to be traded over the counter on the stock exchanges in Berlin, Stuttgart, Düsseldorf and Hamburg as well as on XETRA.In November, TAG shares are quoted in official trade on the stock exchanges in Frankfurt/Main and Munich for the first time. Besides that, the stock continues to trade in the over-the-counter market at the stock exchanges in Berlin, Stuttgart, Dusseldorf and Hamburg, as well as on the XETRA.