# TAG IMMOBILIEN AG

Summary updated: 2026-10-04T15:38:10.783127Z
Canonical: https://finbar.com/research/companies/tag-immobilien-ag

## Overview

TAG Immobilien AG is a Hamburg-based residential real-estate company operating in Germany and Poland. Its core business is owning and renting residential property in Germany, complemented by apartment development and sales in Poland, where it also holds completed homes for rent. [1](https://app.finbar.com/go?id=P92661341) The company describes its aim as sustainable growth in company value for the benefit of investors and tenants. [2](https://www.tag-ag.com/en/)

For the full year 2025, TAG reported total revenue of €967.5 million. [3](https://app.finbar.com/go?id=P121578355) Its official employee information reports 1,922 employees at year-end 2025. [4](https://www.tag-ag.com/en/company/organisational-structure/employees/) FY2025 is the latest full-year report identified; TAG also published a first-quarter 2026 interim statement. [5](https://app.finbar.com/go?id=P12926225)
[1](https://app.finbar.com/go?id=P92661341)[2](https://www.tag-ag.com/en/)[3](https://app.finbar.com/go?id=P121578355)[4](https://www.tag-ag.com/en/company/organisational-structure/employees/)[5](https://app.finbar.com/go?id=P12926225)[2](https://www.tag-ag.com/en/)[4](https://www.tag-ag.com/en/company/organisational-structure/employees/)

## Products & services

TAG Immobilien AG’s principal residential product is rental housing in Germany and Poland. As of 31 March 2026, its portfolio comprised 84,094 units in Germany and 3,707 completed rental apartments in Poland [6](https://app.finbar.com/go?id=T8768720). The German offer includes housing for families, students and older residents. In Poland, the company offers newly built apartments both for rental and for sale, with operations in cities including Warsaw, Wrocław, Poznań, Gdańsk, Kraków and Łódź [7](https://www.tag-ag.com/en/company/portfolio-poland) [8](https://www.tag-ag.com/en/company/portfolio-poland/build-to-hold) [9](https://www.tag-ag.com/en/company/portfolio-poland/build-to-sell).

Tenant services include local offices and customer support through phone, email, app, website forms and other channels; housing advice, social counselling, show flats and tenant surveys are also offered. The TAG Mieter-App provides access to lease, refurbishment and repair information, alongside partner offers [10](https://app.finbar.com/go?id=P38717105) [11](https://www.tag-ag.com/en/sustainability/social-responsibility/our-tenants). Property upgrades include heating-system replacements prioritising district heating or, where unavailable, heat pumps generally using R290 refrigerant. A Salzgitter project combined façade insulation, photovoltaics and a heat pump with conversion to district heating; the planned improvements targeted KfW Efficiency House 55 standards and lower energy use and emissions [12](https://app.finbar.com/go?id=P12170167) [13](https://app.finbar.com/go?id=P78708678).

For FY2025, reported segment revenues comprised €489.1 million of rental income, €129.3 million of service income and €349.1 million of sales income—approximately 50.6%, 13.4% and 36.1% of total segment revenues, respectively [14](https://app.finbar.com/go?id=T5702010).
[6](https://app.finbar.com/go?id=T8768720)[7](https://www.tag-ag.com/en/company/portfolio-poland)[8](https://www.tag-ag.com/en/company/portfolio-poland/build-to-hold)[9](https://www.tag-ag.com/en/company/portfolio-poland/build-to-sell)[10](https://app.finbar.com/go?id=P38717105)[11](https://www.tag-ag.com/en/sustainability/social-responsibility/our-tenants)[12](https://app.finbar.com/go?id=P12170167)[13](https://app.finbar.com/go?id=P78708678)[14](https://app.finbar.com/go?id=T5702010)[14](https://app.finbar.com/go?id=T5702010)[14](https://app.finbar.com/go?id=T5702010)[14](https://app.finbar.com/go?id=T5702010)[14](https://app.finbar.com/go?id=T5702010)[14](https://app.finbar.com/go?id=T5702010)[14](https://app.finbar.com/go?id=T5702010)[14](https://app.finbar.com/go?id=T5702010)[7](https://www.tag-ag.com/en/company/portfolio-poland)[8](https://www.tag-ag.com/en/company/portfolio-poland/build-to-hold)[9](https://www.tag-ag.com/en/company/portfolio-poland/build-to-sell)[11](https://www.tag-ag.com/en/sustainability/social-responsibility/our-tenants)

## Geographic presence

TAG Immobilien AG operates in Germany and Poland. Its German residential portfolio is distributed across Northern and Eastern Germany and North Rhine-Westphalia. At 31 March 2026, it comprised 82,430 residential units: Leipzig 13,037; Erfurt 10,139; Brandenburg 9,355; Salzgitter 9,180; Gera 9,156; Chemnitz 8,029; Rostock 7,536; Hamburg 6,403; Dresden 5,914; and Rhine-Ruhr 3,681. [15](https://app.finbar.com/go?id=P30468523)[16](https://app.finbar.com/go?id=T9785501)

In Poland, the company’s residential portfolio is concentrated in Wrocław, Poznań, Łódź and Gdańsk. At 31 March 2026 it contained 3,639 residential units: Wrocław 1,735 (47.7%), Poznań 1,196 (32.9%), Łódź 527 (14.5%) and Gdańsk 181 (5.0%). [17](https://app.finbar.com/go?id=P116148958)[18](https://app.finbar.com/go?id=T4165220) In Q1 2026, net actual rent was €88.9 million in Germany and €7.0 million in Poland, about 92.7% and 7.3% of the €95.9 million total, respectively (percentages calculated from reported amounts). [19](https://app.finbar.com/go?id=T7956539)

TAG’s registered head office is in Hamburg, and the company describes a decentralized office network extending from Erfurt to Rostock. It reported 1,907 employees group-wide at 31 March 2026, but the available figures do not break employees down by country or office. [20](https://www.tag-ag.com/en/service/directions/)[21](https://www.tag-ag.com/en/company/portfolio/key-figures)[6](https://app.finbar.com/go?id=T8768720) FY 2025 property-sale revenue included €49.958 million from German investment-property sales and, in Poland, €26.982 million from investment-property sales plus €272.164 million from inventory-property sales. [22](https://app.finbar.com/go?id=T13383344)
[15](https://app.finbar.com/go?id=P30468523)[16](https://app.finbar.com/go?id=T9785501)[17](https://app.finbar.com/go?id=P116148958)[18](https://app.finbar.com/go?id=T4165220)[19](https://app.finbar.com/go?id=T7956539)[20](https://www.tag-ag.com/en/service/directions/)[21](https://www.tag-ag.com/en/company/portfolio/key-figures)[6](https://app.finbar.com/go?id=T8768720)[22](https://app.finbar.com/go?id=T13383344)[20](https://www.tag-ag.com/en/service/directions/)[21](https://www.tag-ag.com/en/company/portfolio/key-figures)

## Business segments

TAG IMMOBILIEN AG reports four formal business segments: Rental Germany, Rental Poland, Sales Poland and Other. Rental Germany covers letting the German residential portfolio, alongside some commercial properties, serviced apartments and rental-related services. Rental Poland comprises rental operations, development of housing for future rental and related services. Sales Poland focuses on residential development and sales in Poland. Other mainly includes opportunistic German property sales and apportionable rental operating costs. [14](https://app.finbar.com/go?id=T5702010)[23](https://app.finbar.com/go?id=P38890368)[24](https://app.finbar.com/go?id=P110005073)[25](https://app.finbar.com/go?id=P58688478)

For full-year 2025, the segments’ approximate shares of revenue were Rental Germany 44.5%, Rental Poland 2.7%, Sales Poland 35.5% and Other 17.4%. Their shares of adjusted EBITDA were approximately 69.2%, 5.3%, 25.7% and –0.2%, respectively. [14](https://app.finbar.com/go?id=T5702010)

TAG also describes three principal operating businesses—German rental, Polish rental and Polish sales—while its formal segment reporting includes Other as a fourth category. In H1 2026, adjusted EBITDA was reported for the German and Polish rental businesses combined (€132.2m, about 84.7% of the €156.1m total) and for Polish sales (€23.9m, about 15.3%); the rental figure is not split between Germany and Poland. [14](https://app.finbar.com/go?id=T5702010)[26](https://www.tag-ag.com/fileadmin/content/quartalsberichte/TAG_H1_2026_ENG.pdf)
[14](https://app.finbar.com/go?id=T5702010)[23](https://app.finbar.com/go?id=P38890368)[24](https://app.finbar.com/go?id=P110005073)[25](https://app.finbar.com/go?id=P58688478)[26](https://www.tag-ag.com/fileadmin/content/quartalsberichte/TAG_H1_2026_ENG.pdf)

## Company history

TAG Immobilien traces its origins to the Eisenbahn-Actiengesellschaft Schaftlach–Gmund, founded in 1882. In 2000, the company shifted its focus to real estate and began official trading on the Frankfurt and Munich stock exchanges. It entered residential property through its stake in Bau-Verein zu Hamburg, acquired in 2001 and increased to 87.92% by January 2002. [27](https://www.tag-ag.com/en/company/history/)[28](https://www.tag-ag.com/fileadmin/content/quartalsberichte/2002-31-03_TAG_Quartalsbericht_DE.pdf)

A major expansion followed in 2012, when TAG acquired DKB Immobilien and TLG Wohnen, adding residential portfolios in cities including Berlin, Dresden and Rostock; that year TAG also joined the MDAX. In 2014, it sold its commercial-property portfolio, sharpening its focus on residential real estate. TAG agreed to acquire Polish developer Vantage Development in 2019 and began expanding its activities in Poland in 2020; its 2022 acquisition of ROBYG broadened that platform. [29](https://www.tag-ag.com/en/news/press-releases/announcement/tag-immobilien-ag-tag-immobilien-ags-bid-for-dkb-immobilien-ag-accepted-1183498)[30](https://www.tag-ag.com/en/news/ad-hoc-announcements/announcement/tag-immobilien-ag-to-purchase-tlg-wohnen-gmbh-and-resolves-on-capital-increase-against-cash-contributions-for-up-to-30-million-new-shares-to-finance-the-acquisition-1275992)[27](https://www.tag-ag.com/en/company/history/)[31](https://www.tag-ag.com/en/news/press-releases/announcement/tag-immobilien-ag-sells-its-commercial-real-estate-portfolio-to-fund-affiliated-with-apollo-global-management-1401586)[15](https://app.finbar.com/go?id=P30468523)[32](https://www.tag-ag.com/en/news/ad-hoc-announcements/announcement/tag-immobilien-ag-to-acquire-robyg-sa-to-accelerate-its-path-of-growth-to-become-the-leading-polish-residential-for-rent-player-2179765) In 2026, TAG completed a placement of ROBYG shares in an IPO, a milestone in the development of its Polish business. [33](https://www.tag-ag.com/en/news/press-releases/announcement/tag-immobilien-ag-ipo-of-the-polish-subsidiary-robyg-successful-share-placement-346524511)
[15](https://app.finbar.com/go?id=P30468523)[27](https://www.tag-ag.com/en/company/history/)[28](https://www.tag-ag.com/fileadmin/content/quartalsberichte/2002-31-03_TAG_Quartalsbericht_DE.pdf)[29](https://www.tag-ag.com/en/news/press-releases/announcement/tag-immobilien-ag-tag-immobilien-ags-bid-for-dkb-immobilien-ag-accepted-1183498)[30](https://www.tag-ag.com/en/news/ad-hoc-announcements/announcement/tag-immobilien-ag-to-purchase-tlg-wohnen-gmbh-and-resolves-on-capital-increase-against-cash-contributions-for-up-to-30-million-new-shares-to-finance-the-acquisition-1275992)[31](https://www.tag-ag.com/en/news/press-releases/announcement/tag-immobilien-ag-sells-its-commercial-real-estate-portfolio-to-fund-affiliated-with-apollo-global-management-1401586)[32](https://www.tag-ag.com/en/news/ad-hoc-announcements/announcement/tag-immobilien-ag-to-acquire-robyg-sa-to-accelerate-its-path-of-growth-to-become-the-leading-polish-residential-for-rent-player-2179765)[33](https://www.tag-ag.com/en/news/press-releases/announcement/tag-immobilien-ag-ipo-of-the-polish-subsidiary-robyg-successful-share-placement-346524511)

## Sources

1. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p23](https://app.finbar.com/go?id=P92661341)
2. [www.tag-ag.com](https://www.tag-ag.com/en/)
3. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p109](https://app.finbar.com/go?id=P121578355)
4. [www.tag-ag.com](https://www.tag-ag.com/en/company/organisational-structure/employees/)
5. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p1](https://app.finbar.com/go?id=P12926225)
6. [TAG IMMOBILIEN AG — Full financial report (2026 Q 1), p2](https://app.finbar.com/go?id=T8768720)
7. [www.tag-ag.com](https://www.tag-ag.com/en/company/portfolio-poland)
8. [www.tag-ag.com](https://www.tag-ag.com/en/company/portfolio-poland/build-to-hold)
9. [www.tag-ag.com](https://www.tag-ag.com/en/company/portfolio-poland/build-to-sell)
10. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p79](https://app.finbar.com/go?id=P38717105)
11. [www.tag-ag.com](https://www.tag-ag.com/en/sustainability/social-responsibility/our-tenants)
12. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p124](https://app.finbar.com/go?id=P12170167)
13. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p125](https://app.finbar.com/go?id=P78708678)
14. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p276](https://app.finbar.com/go?id=T5702010)
15. [TAG IMMOBILIEN AG — Full financial report (2026 Q 1), p5](https://app.finbar.com/go?id=P30468523)
16. [TAG IMMOBILIEN AG — Full financial report (2026 Q 1), p9](https://app.finbar.com/go?id=T9785501)
17. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p22](https://app.finbar.com/go?id=P116148958)
18. [TAG IMMOBILIEN AG — Full financial report (2026 Q 1), p11](https://app.finbar.com/go?id=T4165220)
19. [TAG IMMOBILIEN AG — Presentation (2026 Q 1), p23](https://app.finbar.com/go?id=T7956539)
20. [www.tag-ag.com](https://www.tag-ag.com/en/service/directions/)
21. [www.tag-ag.com](https://www.tag-ag.com/en/company/portfolio/key-figures)
22. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p269](https://app.finbar.com/go?id=T13383344)
23. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p275](https://app.finbar.com/go?id=P38890368)
24. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p275](https://app.finbar.com/go?id=P110005073)
25. [TAG IMMOBILIEN AG — Full financial report (2025 Y), p275](https://app.finbar.com/go?id=P58688478)
26. [www.tag-ag.com](https://www.tag-ag.com/fileadmin/content/quartalsberichte/TAG_H1_2026_ENG.pdf)
27. [www.tag-ag.com](https://www.tag-ag.com/en/company/history/)
28. [www.tag-ag.com](https://www.tag-ag.com/fileadmin/content/quartalsberichte/2002-31-03_TAG_Quartalsbericht_DE.pdf)
29. [www.tag-ag.com](https://www.tag-ag.com/en/news/press-releases/announcement/tag-immobilien-ag-tag-immobilien-ags-bid-for-dkb-immobilien-ag-accepted-1183498)
30. [www.tag-ag.com](https://www.tag-ag.com/en/news/ad-hoc-announcements/announcement/tag-immobilien-ag-to-purchase-tlg-wohnen-gmbh-and-resolves-on-capital-increase-against-cash-contributions-for-up-to-30-million-new-shares-to-finance-the-acquisition-1275992)
31. [www.tag-ag.com](https://www.tag-ag.com/en/news/press-releases/announcement/tag-immobilien-ag-sells-its-commercial-real-estate-portfolio-to-fund-affiliated-with-apollo-global-management-1401586)
32. [www.tag-ag.com](https://www.tag-ag.com/en/news/ad-hoc-announcements/announcement/tag-immobilien-ag-to-acquire-robyg-sa-to-accelerate-its-path-of-growth-to-become-the-leading-polish-residential-for-rent-player-2179765)
33. [www.tag-ag.com](https://www.tag-ag.com/en/news/press-releases/announcement/tag-immobilien-ag-ipo-of-the-polish-subsidiary-robyg-successful-share-placement-346524511)

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