ARTICLES LABELLED WITH TAG Immofinanz

29
Nov

Immofinanz posts increase in net profit

by Property Forum
Immofinanz posted a significant increase in net profit from continuing operations (excl. Russia) for the first three quarters of 2017, to €116.3 million (Q1-Q3 2016: €-217.8 million). Rental income remained stable at €174.1 million despite the ongoing sale of non-strategic properties (Q1-Q3 2016: €174.0 million). Adjusted for new acquisitions, completions and sales (like-for-like), rental income rose significantly, by 3.9% to €138.4 million. The results from Asset Management grew 11.3% to €122.6 million; financial results moved strongly into positive territory at €88.6 million (Q1-Q3 2016: €-143.9 million). This was primarily a result of positive valuation effects from the CA Immo and BUWOG shareholdings, and lower financing costs. Overall, net profit (incl. Russia) improved to €-59.1 million (Q1-Q3 2016: €-409.5 million).
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03
Nov

Immofinanz sells two land plots in Bucharest

by Property Forum
Immofinanz started selling land plots from the portfolio of Adama, a residential developer part of the Immofinanz Group. Two land plots located in the Bucharest area have already been sold, while the transaction for another piece of land is set to be finalised in November. The three assets have a total surface area of almost 36,000 sqm. The parties have agreed not to disclose further details.
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02
Oct

Immofinanz expands its Vivo! portfolio

by Property Forum
Immofinanz has completed and opened a further shopping centre under its Vivo! retail brand in the Polish city of Krosno. Vivo! Krosno has approx. 21,000 sqm of rentable space and is fully occupied. This shopping centre expands Immofinanz‘s Vivo! portfolio to ten locations in four countries with more than 314,000 sqm of rentable space.
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30
Aug

Immofinanz records increase in profit in H1 2017

by Ákos Budai
Immofinanz recorded a significant increase in net profit to €105.3 million in the first half of 2017 (H1 2016: €-243.3 million). Net profit from continuing operations, i.e. excluding Russia, totalled €113.1 million (H1 2016: €-123.9 million). Rental income remained stable at €114.9 million (H1 2016: €115.9 million) despite the continuing sale of non-strategic properties. After an adjustment for new acquisitions, completions and sales (like-for-like), rental income rose by a sound 4.6% to €92.4 million. The results of asset management increased by 10.0% to €79.1 million, and financial results turned sharply positive at €104.4 million (H1 2016: €-58.0 million). This improvement resulted, above all, from positive valuation effects related to the investments in CA Immo and BUWOG.
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16
Aug

Immofinanz appoints Savills as PM in the Czech Republic

by Ákos Budai
Savills has been appointed by Immofinanz to property manage a portfolio of four office buildings in Prague. The portfolio includes myhive Pankrác House, Jindrřišská 16, Jungmannova 15 and Airport Business Center, accommodating over 70 tenants including: OMD Czech, GrECo JLT, Customs Office Prague, CPL Jobs and others. 
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22
Mar

2017 can be the best year yet for the Romanian market

by Ákos Budai
The mindset of end-users is quickly changing in the world of real estate and developers looking to stay in the race need to keep up with current trends. This trivial statement is especially true in the case of a dynamically growing market such as Romania, which has gone through significant changes in recent years. Sorin Visoianu, Country Manager of Operations at Immofinanz told us what he thinks is driving the Romanian commerical property market.
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10
Mar

Immofinanz rebrands five Budapest office buildings

by Ákos Budai
Immofinanz introduces its international office brand myhive to the Hungarian market, to be implemented in five of its office buildings in Budapest. The Greenpoint 7 and Haller Gardens have already become myhive Greenpoint 7 and myhive Haller Gardens, after a transformation process through which the properties’ common areas now offer an extended service range and improved infrastructure to encourage socialization. Plans call for the myhive concept to also be rolled-out at Átrium Park to become myhive Átrium Park, Globe 13 and Xenter 13 buildings to become myhive Thirteen.
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28
Feb

Immofinanz rents over 80,000 sqm of office space in Bucharest

by Ákos Budai
Immofinanz rented approx. 80,000 sqm of office space in Bucharest during the abbreviated 2016 financial year. That represents more than 40% of the total standing office portfolio in Romania. These transactions are expected to increase the occupancy rate in the office sector in Romania from roughly 88% to more than 94%. New rentals and expansions accounted for roughly 47,000 sqm or 60% of the rented space, while the remainder represents contract extensions. 
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19
Dec

Immofinanz delays merger with CA Immo

by Ákos Budai
Immofinanz AG has announced a change in the preliminary timetable for the intended merger with CA Immobilien Anlagen AG. The reason is the planned divestment of Immofinanz’s Russian property portfolio, which is a condition for the merger of the two companies. The Executive Board and Supervisory Board of Immofinanz today decided to schedule a longer period than originally considered for the process to separate the Russian properties. The recent stabilisation of the economy in Russia has contributed to this decision. 
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19
Dec

Immofinanz sells non-core retail portfolio in Austria

by Ákos Budai
Immofinanz has announced the sale of a smaller Austrian retail portfolio to an Austrian real estate investor and, with this transaction, continues its strategic withdrawal from properties that are not part of the core business. The portfolio covers 88 properties with approx. 108,000 sqm of rentable space in eight Austrian provinces. The parties to the transaction have agreed not to disclose any information on the purchase price. The closing will take place in several steps through the end of 2017. 
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