TAG Immobilien AG
TAG Immobilien AG is a German public limited company (Aktiengesellschaft, AG) registered in the commercial register of the Hamburg Local Court under number HRB 106718, with its registered office at Steckelhörn 5, 20457 Hamburg, Germany. As of the most recent filings reviewed, the company’s registry status is active.
TAG Immobilien AG owns, lets and manages residential real estate, principally a multifamily rental-housing portfolio located across German regions such as Berlin, Dresden, Chemnitz, Salzgitter, Erfurt and Rostock, and holds a majority interest in the Polish residential developer ROBYG S.A., which builds and sells apartments and operates a growing build-to-rent portfolio in Poland. The group’s business is therefore split between long-term rental income in Germany and residential development and sales activity in Poland.
The company’s registration number traces to a legal predecessor, the Eisenbahn-Aktiengesellschaft Schaftlach-Gmund-Tegernsee, a Bavarian railway company incorporated in 1882. That entity was later converted into a property and investment holding company under the name TAG Tegernsee Immobilien- und Beteiligungs-AG and refocused entirely on real estate investment in November 2000, when it first listed on a German stock exchange. Following a change of registered office, the company was renamed TAG Immobilien AG and re-registered at the Hamburg Local Court on 19 September 2008. The 1882 incorporation date associated with this registration therefore reflects the founding of a historical predecessor entity, not the start of TAG’s current residential real estate business, which dates from the 2000/2008 reorganisation.
TAG Immobilien AG shares (ISIN DE0008303504) are admitted to trading on the regulated market of the Frankfurt Stock Exchange and are constituents of the MDAX index; the shares moved from the SDAX to the MDAX in 2012. Total shares outstanding were reported at approximately 190.3 million and market capitalisation at approximately EUR 2.4 billion as of 31 August 2026, according to the company’s own investor relations disclosures.
Germany’s residential real estate sector experienced significant valuation and financing stress from 2022 onward, and TAG Immobilien AG has been directly affected: the company recognised impairments on its German portfolio during 2023, cancelled its dividend for the 2023 financial year, and raised capital through a 2022 rights issue (gross proceeds of approximately EUR 202 million) and an asset-disposal programme. The company’s loan-to-value ratio (LTV) subsequently declined from 46.9% at the end of 2024 to 42.3% at 30 September 2025, following a further capital increase of approximately EUR 186 million completed in the third quarter of 2025. EPRA net tangible assets per share were reported at EUR 20.19 as of 30 September 2025, up from EUR 19.15 at year-end 2024. In 2026, TAG Immobilien AG completed a partial initial public offering of its Polish subsidiary ROBYG, which the company reported further reduced pro forma LTV to approximately 42.2% by June 2026. For the 2026 financial year, the company issued guidance for growth in funds from operations (FFO I and FFO II) and an increase in its dividend payout ratio to 50% of FFO I. The company’s average cost of debt rose from 2.2% at the end of 2023 to 2.6% by March 2026, reflecting the continued refinancing of legacy low-cost debt at higher market rates. An active registration and continued stock-exchange listing do not, on their own, indicate that a company’s underlying financial position is free of the risks described above; the figures cited here are drawn from the company’s own financial disclosures and rating-agency commentary.
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- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
1
Shareholders of TAG Immobilien AG
TAG Immobilien AG is a listed public company; under German securities law (WpHG), only holdings that cross statutory notification thresholds (starting at 3% of voting rights) are publicly disclosed, so the shareholder information below reflects major reportable holders rather than the complete shareholder base. According to the company’s own investor relations disclosures, total shares outstanding were approximately 190.3 million as of 31 August 2026, of which approximately 99.97% were held in free float, with no shareholder or group of shareholders acting in concert identified as holding a controlling stake.
The largest disclosed holder is BlackRock, Inc. (Wilmington, Delaware, USA), which reported total voting rights of approximately 6.81% as of 10 June 2026 (4.71% from shares, 2.10% from financial instruments), following an earlier notification of 6.68% on 22 May 2026. Other major reportable holders identified in recent voting-rights notifications and aggregated shareholder data include BNP Paribas Asset Management Europe SAS (approximately 4.94%), Resolution Capital Ltd. (approximately 4.74%), Thames River Capital LLP (approximately 4.11%), Cohen & Steers Capital Management, Inc. (approximately 3.16%), BNP Paribas Real Estate Investment Management France SA (approximately 3.06%), DWS Investment GmbH (approximately 2.95%), VBL – Versorgungsanstalt des Bundes und der Länder (approximately 2.88%), AXA Investment Managers (Paris) SA (approximately 2.65%), and Norges Bank Investment Management (approximately 2.58%). Internationale Kapitalanlagegesellschaft mbH reported a combined position of 3.12% (2.99% shares, 0.13% instruments) on 22 September 2026. All of these holders are asset managers, pension schemes or sovereign investment vehicles administering third-party or pooled capital; none is reported as a strategic or controlling shareholder.
Zavia’s internally stored shareholder record for this company lists only a single position (an iShares MSCI EAFE Small-Cap ETF fund reporting a 6.02% share, dated 4 September 2026); this single-record dataset is materially incomplete relative to the WpHG notifications summarised above and should not be treated as a full shareholder list.
Ultimate beneficial ownership
No verified ultimate beneficial owner has been identified. TAG Immobilien AG’s share capital is held in a highly dispersed free float (approximately 99.97%) across institutional asset managers, none of which is reported at or above the 25% control threshold used under German beneficial-ownership rules (Geldwäschegesetz). The largest disclosed holder, BlackRock, Inc., holds its position on behalf of managed funds and clients rather than as a beneficial owner in its own right. In the absence of a natural person or entity meeting the applicable ownership or control threshold, TAG Immobilien AG’s statutory representatives (its Management Board) are treated as the fictitious beneficial owners under German law, as is standard practice for widely-held listed companies with no identifiable controlling shareholder.
Data availability
Shareholder information for TAG Immobilien AG is major shareholders only: German and EU transparency rules require disclosure when 3%, 5%, 10% and further voting-rights thresholds are crossed, but do not require publication of holdings below those levels or of the identities of underlying beneficial owners of institutional positions. The figures above are current as of the notification dates shown (May–September 2026) and may change with subsequent BaFin filings.
Sources
- TAG Immobilien AG, Shareholder Structure — https://www.tag-ag.com/en/investor-relations/share/shareholder-structure/ (snapshot 31 August 2026; retrieved 25 September 2026)
- EQS Voting Rights Notification, BlackRock, Inc. — https://www.eqs-news.com/news/voting-rights/blackrock-inc-wilmington-delaware-united-states-of-america-usa/b7e067b0-cc58-4c56-a59f-354ece5bc1ae_en (10 June 2026; retrieved 25 September 2026)
- Ad-hoc-news.de, EQS-Stimmrechte TAG Immobilien AG — https://www.ad-hoc-news.de/boerse/news/corporate-news/tag-immobilien-ag-veroeffentlichung-gemaess-40-abs/70176733 (22 September 2026; retrieved 25 September 2026)
- MarketScreener, TAG Immobilien AG – Shareholders — https://www.marketscreener.com/quote/stock/TAG-IMMOBILIEN-AG-117136882/company-shareholders/ (retrieved 25 September 2026)
Registry feed — rows exactly as filed with Handelsregister (Commercial Register), including entries the profile above does not cover.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| iShares Trust-iShares MSCI EAFE Small-Cap ETF | 6% | Handelsregister (Commercial Register) |
Officers
36
Directors and officers of TAG Immobilien AG
TAG Immobilien AG has a two-tier German governance structure: a Management Board (Vorstand) and a Supervisory Board (Aufsichtsrat). According to the company’s own governance disclosures, the current Management Board has two members: Claudia Hoyer (Chief Operating Officer, board member since 1 July 2012, Co-Chief Executive Officer since September 2023) and Martin Thiel (Chief Financial Officer, board member since 1 April 2014, Co-Chief Executive Officer since September 2023). The Supervisory Board has six current members: Olaf Borkers (Chair, shareholder representative, appointed 16 May 2023), Eckhard Schultz (Deputy Chair, shareholder representative, appointed October 2023), Gabriela Gryger (shareholder representative, appointed 28 May 2024), Prof. Dr. Marion Peyinghaus (shareholder representative, appointed 20 May 2026), and Björn Eifler and Beate Schulz (employee representatives, both elected September 2023, with mandates extending to 2028).
Zavia’s internally stored officer record for this company (36 entries, most recently synced 8 September 2026) is only partially reliable: it correctly lists Claudia Hoyer and Martin Thiel in active status, but generic role labels such as “Officer” or “Partner” are used throughout instead of the actual German board titles, and several entries do not represent individual officers at all — they are institutional shareholders (for example, “Mfs Meridian Funds”, “Massachusetts Financial Services Company”, “Capital Income Builder” and “Staat Norwegen” / Norges Bank Investment Management) that appear to have been captured from voting-rights or shareholding notifications and mis-tagged as company officers. These shareholder entries have been excluded from the summary above. The record also lists numerous historical Management Board members dating back to 2001, reflecting turnover across TAG’s corporate history, including its 2008 relocation to Hamburg and subsequent portfolio acquisitions; some names appear with minor spelling or formatting variants (for example “Ulrike Helen Isenberg” and “Ulrike Helen Bondkirch”, and “Martin Thiel” recorded under three separate name and title variants) that could not be independently confirmed as the same individual and are therefore not merged here.
Recent officer changes
- 20 May 2026 — Prof. Dr. Marion Peyinghaus appointed to the Supervisory Board as a shareholder representative.
- 28 May 2024 — Gabriela Gryger appointed to the Supervisory Board as a shareholder representative.
- 2023 — Olaf Borkers appointed Chair of the Supervisory Board (16 May 2023) and Eckhard Schultz appointed Deputy Chair (October 2023); Claudia Hoyer and Martin Thiel became Co-Chief Executive Officers (September 2023).
Data availability
German commercial-register and company-website disclosures provide current board composition but do not publish officers’ nationality or private residential address; nationality is not disclosed for any individual named above and has not been inferred from name, address or country of registration. Correspondence addresses in the underlying registry data are service addresses only and are not repeated here. The information is assessed as partial: current Management and Supervisory Board composition is well documented from the company’s own website, but the historical officer entries in Zavia’s underlying dataset mix genuine former officers with unrelated shareholder entities and are not fully reliable for the pre-2022 period.
Sources
- TAG Immobilien AG, Supervisory Board — https://www.tag-ag.com/en/company/supervisory-board (retrieved 25 September 2026)
- TAG Immobilien AG, Management — https://www.tag-ag.com/en/company/management/ (retrieved 25 September 2026)
- TAG Immobilien AG, Statutory disclosures / imprint — https://www.tag-ag.com/en/imprint/ (retrieved 25 September 2026)
- TAG Immobilien AG, press release: New Supervisory Board members; Claudia Hoyer and Martin Thiel to lead as Co-CEOs — https://www.tag-ag.com/en/news/press-releases/announcement/tag-immobilien-ag-neue-mitglieder-im-aufsichtsrat-der-tag-claudia-hoyer-und-martin-thiel-fuehren-das-unternehmen-zukuenftig-als-co-ceos-2615813 (retrieved 25 September 2026)
Registry feed — rows exactly as filed with Handelsregister (Commercial Register), including entries the profile above does not cover.
Group Structure
Group structure of TAG Immobilien AG
TAG Immobilien AG is the ultimate parent of a large corporate group. Zavia’s internal corporate-linkage data for this company records 169 linked subsidiary entities beneath TAG Immobilien AG (170 nodes including the parent itself), spanning up to four tiers of ownership. Of these, 67 entities are registered in Germany and 103 in Poland, reflecting the group’s two principal business lines: a German residential rental-property holding structure (typically one property-owning entity per asset or asset cluster) and the Polish residential development structure built around the group’s Vantage Development and ROBYG businesses. TAG Immobilien AG has four direct subsidiaries in the underlying dataset: TAG Wohnen & Service GmbH, TAG Beteiligungs- und Immobilienverwaltungs GmbH, Bau-Verein zu Hamburg Immobilien GmbH, and FC REF I GmbH. Ownership percentages within the group are not disclosed in the underlying dataset. In 2026, TAG Immobilien AG completed a partial initial public offering of its Polish subsidiary ROBYG S.A., which reduced (but did not eliminate) TAG’s ownership interest in that business; the resulting post-IPO ownership percentage has not been independently confirmed from a primary filing at the time of writing.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| TAG Wohnen & Service GmbH | Germany | DE 20355B99672 | Direct subsidiary | Ownership percentage not disclosed | Active | 8 September 2026 |
| TAG Beteiligungs- und Immobilienverwaltungs GmbH | Germany | DE 20355B127932 | Direct subsidiary | Ownership percentage not disclosed | Active | 8 September 2026 |
| Bau-Verein zu Hamburg Immobilien GmbH | Germany | DE 20355B125633 | Direct subsidiary | Ownership percentage not disclosed | Active | 8 September 2026 |
| FC REF I GmbH | Germany | DE 80333B206938 | Direct subsidiary | Ownership percentage not disclosed | Active | 8 September 2026 |
| ROBYG S.A. (and subsidiaries) | Poland | Not disclosed in dataset | Majority-owned subsidiary (partial IPO completed 2026) | Majority stake; exact post-IPO percentage not confirmed from a primary filing | 2026 |
This table lists the entities that could be positively identified in the underlying corporate-linkage data by name, country and registration number. It does not reproduce the full 169-entity subsidiary list, which is dominated by single-purpose German property-holding companies and Polish development-project entities.
Recent structural changes
- 2026 — Partial initial public offering of Polish subsidiary ROBYG S.A., reducing TAG’s ownership stake while retaining majority control; proceeds were reported by the company as contributing to a reduction in group loan-to-value.
- 2021 — Acquisition of ROBYG S.A., consolidating TAG’s Polish residential development platform alongside its earlier Vantage Development acquisition from 2019.
Data availability
Group-structure information for TAG Immobilien AG is assessed as partial: the parent-subsidiary tree is extensive and internally consistent (169 linked entities across Germany and Poland), but ownership percentages for individual subsidiaries and the exact post-IPO ownership of ROBYG S.A. are not disclosed in the dataset reviewed and were not confirmed from a primary regulatory filing at the time of writing.
Sources
- TAG Immobilien AG, Company History — https://www.tag-ag.com/en/company/history/ (retrieved 25 September 2026)
- TAG Immobilien AG, Investor Relations — https://www.tag-ag.com/en/investor-relations/ (retrieved 25 September 2026)
TAG Immobilien AG
Germany
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Frequently Asked Questions
What does TAG Immobilien AG do?
TAG Immobilien AG (HRB 106718, Hamburg) is a German Aktiengesellschaft that owns and manages a residential rental-housing portfolio in Germany and holds a majority stake in the Polish residential developer ROBYG S.A.
Who owns TAG Immobilien AG?
Ownership is widely dispersed (approximately 99.97% free float); the largest disclosed holder is BlackRock, Inc. with roughly 6.8% of voting rights as of June 2026, per WpHG voting-rights notifications.
Who is TAG Immobilien AG's UBO (Ultimate Beneficial Owner)?
No verified ultimate beneficial owner was identified; share ownership is dispersed among institutional investors, none holding at or above the 25% control threshold.
What is TAG Immobilien AG's company registration number?
TAG Immobilien AG's registration number is HRB 106718 Hamburg, filed with Handelsregister (Commercial Register) in Germany. Its current status on the register is active.
Is TAG Immobilien AG still an active company?
TAG Immobilien AG's status on Handelsregister (Commercial Register) is listed as active.
What is TAG Immobilien AG's registered address?
The registered address on file for TAG Immobilien AG is Hamburg, Germany.
What legal structure is TAG Immobilien AG registered as?
TAG Immobilien AG is registered as a Join Stock Company in Germany.
What is TAG Immobilien AG's revenue?
The company does not separately disclose standalone-entity revenue; group FFO I guidance for 2026 is EUR 187-197 million and FFO II guidance is EUR 279-295 million, per company disclosures.
Is TAG Immobilien AG listed on a stock exchange?
TAG Immobilien AG shares (ISIN DE0008303504) trade on the regulated market of the Frankfurt Stock Exchange and are constituents of the MDAX index.
Who are the officers/directors of TAG Immobilien AG?
The Management Board comprises Claudia Hoyer and Martin Thiel (Co-Chief Executive Officers); the Supervisory Board is chaired by Olaf Borkers, per the company's 2026 governance disclosures.
Does TAG Immobilien AG have a parent company or subsidiaries?
TAG Immobilien AG is the ultimate parent of roughly 169 linked subsidiaries spanning Germany and Poland, including a majority stake in Polish developer ROBYG S.A.
Can Zavia monitor changes to TAG Immobilien AG's ownership over time?
This profile reflects a point-in-time snapshot from Handelsregister (Commercial Register). Zavia's monitoring API can track changes to TAG Immobilien AG's registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access TAG Immobilien AG's data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including Germany, so records like TAG Immobilien AG's registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Handelsregister (Commercial Register) and was last synced on 8 September 2026.