DFF - Resi4Rent Extension (EBRD-56269)

Countries
  • Poland
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 1, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
R4R Poland SP ZOO
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 27.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 25
Converted using 2025-04-01 exchange rate.
Project Cost (USD)
$ 857.40 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 794
Converted using 2025-04-01 exchange rate.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 9, 2025

Disclosed by Bank Mar 31, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of an up to EUR 25m holding level loan to R4R Poland Sp. z o.o. ("Resi4Rent"), a limited liability company incorporated in Poland, for financing the development and operation of a pipeline of apartments for rent across Poland. The proposed transaction will upsize the original project of EUR 75m loan (the "Original Transaction") and support Resi4Rent in the further growth of its portfolio.

The proceeds from the planned financing will be utilized to finance the development and operation of a portfolio of apartments for rent located across Poland. Currently, the Company operates in the Private Rented Sector with ca. 5,400 units, and according to its business plan, aims to build a platform with 10,000 operating units by 2026.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised B (ESP 2019). Development and operation of an additional 730 residential flats across Poland has the same risk profile as the original transaction. The risks are readily identifiable and can be mitigated through good E&S risk and impact management practices. The 2019 ESP is maintained as applicable due to this being a top-up of an existing project.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

An up to EUR 25m holding level loan.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

R4R Poland SP ZOO (Resi4Rent) is a joint venture between PIMCO and Echo Investment, with the latter being a leading Polish real estate developer active in the residential, office, and retail sub-sectors. PIMCO owns 70% of the JV, while Echo Investment owns 30%. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - R4R Poland Sp. z o.o. Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

COMPANY CONTACT INFORMATION

Rafal Ryba
rryba@r4r.pl
+48 608 577 449
https://r4r.pl/en/
ul. Litewska 1, 00-581 Warszawa, Polska

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html

How it works

How it works