For another quarter in a row, CA Immo has posted a strong operating result and a clearly positive consolidated net income. The organic growth of the portfolio through own project completions and the continuing high occupancy rate of the investment portfolio (95%) resulted in a further strong increase in net result from rent (+10.5% on the previous year). Despite a positive valuation contribution in the 3rd quarter, the negative revaluation result – as a result of the pandemic and its various effects – continues to have a negative impact on consolidated net income. With the addition of a total of three office buildings in Berlin and Munich (including two own project completions and one portfolio acquisition) and the purchase of an office building in Warsaw, CA Immo continued its portfolio growth in 2020.
"After a subdued first half of the year, the dynamics of the transaction markets increased noticeably in the 3rd and 4th quarters of 2020. We were able to take full advantage of this environment to optimize the quality of our investment portfolio by selectively buying and selling properties at very attractive conditions. At the same time, we placed our first Green Bond for the (re)financing of our sustainable project developments with great success. This underscores our commitment to the transition to a low-carbon, sustainable economy, while at the same time taking advantage of favourable market conditions to further optimize our financing structure and costs. Thanks to this positive operating dynamic, we are already paving the way for a post-pandemic, high-growth 2021,” Andreas Quint, CEO of CA Immo said.
Results of the first three quarters of 2020
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