📋 Tender Overview
Location: Poland
Project number: 55085
Business sector: Property and tourism
Notice type: Private
EBRD Finance Summary: EUR 100,000,000.00
Total Project Cost: EUR 200,000,000.00
Project Description
A senior loan of up to EUR 100 million in favour of Polish subsidiaries (the "Borrowers") of Vantage Development S.A. (the "Parent"), The Parent is incorporated in Poland and ultimately owned by TAG Immobillien AG (the "Sponsor"). The proceeds of the EBRD loan will support the development of the Parent's energy efficient residential for rent buildings in Poland.
Project Objectives
The transaction will help to alleviate the housing shortage in Poland, which was exacerbated by the war on Ukraine and the inflow of Ukrainian refugees to Poland, by supporting the increase in supply of energy efficient residential buildings. Moreover, the project will introduce social leases which is a novelty for the Polish residential market.
Transition Impact
ETI score: 61
The expected Transition Impact will contribute to the "Inclusive" and "Green" qualities.
Inclusive Quality: The project will broaden access to housing as vital infrastructure for sustaining human capital and livelihoods and introduce social housing contracts in its portfolio, a novelty for the Polish private residential market. Given the acute housing shortage in Poland and the large rental gap (i.e. a significant share of the population that cannot afford housing but are not poor enough to benefit from the social housing stock), the project will deliver innovative solutions by introducing social rental contracts.
Green Quality: The financed buildings will perform at least 10% better than the minimum national requirements, resulting in measurable environmental benefits and lower GHG emissions.
