20:24 10 January 2022
Resi4Rent and ING enter the joint venture worth PLN 355 mln
Lending transaction worth PLN 355 million related to the refinancing of the housing assets portfolio is the first joint venture of Resi4Rent and ING Bank Śląski, being also the first example of the ING Bank’s financial involvement in the institutional rental sector in Poland.
The financing covers four newly built residential investments in Warsaw, Wrocław, and Łódź, offering a total of over 1,200 apartments for rent. The obtained funds allow the investor to further develop the platform of subscription apartments. ING has acted as sole arranger and lender in this financing.
“Cooperation with ING Bank Śląski confirms that the business model, as a result of which we have introduced a new product to the market – subscription apartments, delivers the desired effects and makes us a reliable business partner. The concluded contract is a crucial stage in Resi4Rent's development, and the financing obtained unfolds opportunities for further effective operations. Today, we are the largest professional operator of apartments for rent in Poland, and our portfolio includes 8 investments in 5 cities, offering a total of over 2,300 premises. I am delighted that our brand has attracted ING's attention to the corporate rental sector of apartments,” Rafał Ryba, CFO Resi4Rent, said.
(WBJ)
