Vantage Development to acquire a PRS portfolio of Resi4Rent for PLN2.4bn.

Vantage Development, a real estate firm, agreed to acquire a PRS portfolio of Resi4Rent, a real estate company that provides property rental, sale, purchase, and investment services, for PLN2.4bn. The 5,322 rental units to be acquired have a total usable area of c. 177,700 square meters and are located in Poland's six largest cities: Warsaw (1,755 units), Wrocław (1,653 units), Poznań (571 units), Kraków (535 units), Łódź (506 units) and Gdańsk (302 units). There are a total of 18 projects, most of which were newly constructed in the last three years and are almost fully let with a vacancy rate of generally only c. 2%.