Vantage Development – of TAG Immobilien Group – has raised a total of EUR 24 million under a bond issue programme with a total maximum nominal value of EUR 35 million, the company said. The maturity of the bonds issued is up to four years.
The bonds will be secured by a guarantee provided by TAG Immobilien of up to €31.2 million.
“This is the first bond issue of its kind in the PRS market and unique because it is denominated in euros. I am pleased that Vantage’s bonds were so well received by investors and we were able to successfully close the issue, raising €24 million for the company. This allows us to further strengthen our position in the institutional rental segment and develop our offer. We have thus gained confirmation that Vantage is a reliable partner both on the real estate market and on the capital market. The company already has more than 2,200 rental units on offer, most of which are leased. It has recently entered the Łódź market and we are planning further development in other cities,” commented Oscar Kazanelson, chairman of the supervisory board of Vantage Development and Robyg Group.
In 2022, Robyg and Vantage began building synergies within TAG Immobilien Group, with ROBYG taking over supervisory and management competences at Vantage, it recalled. Notwithstanding the combined management and supervision, each company continues its existing activities. ROBYG builds and sells flats, and manages the general contracting and sales of Vantage investments. Vantage Rent operates in the PRS segment – i.e. flats for rent. Each company is financed independently.
Source: Vantage Development and ISBnews
Photo: Port Popowice – Vantage Development
