ARTICLES LABELLED WITH TAG Austria

News Get ready for the future of property in Vienna
05
Jul
2018

Get ready for the future of property in Vienna

by Property Forum
On 20 September 2018, CEE Property Forum, a conference and networking event for real estate professionals from all over the CEE region will be held for the sixth time in Vienna. The event is organised by Property Forum, in close cooperation with RICS.
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News Immofinanz doubles results of operations
31
May
2018

Immofinanz doubles results of operations

by Property Forum
Immofinanz doubled the results of operations to €35.5 million in the first quarter of 2018 (Q1 2017: €17.8 million). Rental income rose by 3.3% to €59.0 million. The results of asset management increased by a sound 14.1% to €45.0 million following a substantial reduction in property expenses. Both the results of property sales and the results of property development turned clearly positive: the results of property sales improved to €3.5 million (€-6.0 million) and the results of property development to €1.8 million (€-5.8 million).
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News Immofinanz posts 2017 financial results
05
Apr
2018

Immofinanz posts 2017 financial results

by Property Forum
Net profit from continuing operations (i.e. excluding Russia) returned to the profit zone with a significant improvement to €181.0 million in 2017 (2016: €-147.4 million). That represents earnings per share of €0.17 (2016: €-0.15). Rental income was slightly higher at €234.5 million (2016: €233.4 million) despite the continuing sale of properties which do not fit in with the corporate strategy. After an adjustment for new acquisitions, completions and sales (like-for-like), rental income grew by a sound 4.5% to €200.0 million (annualised). The results of Asset Management rose by 13.4% to €150.8 million. In total, the results of operations increased by 44.4% to €107.6 million (2016: €74.5 million). Financial results turned substantially positive at €88.8 million (2016: €-107.6 million), above all due to positive valuation effects from the investments in CA Immo and BUWOG and a reduction in financing costs.
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News Allianz Real Estate sets up CEE office in Vienna
29
Mar
2018

Allianz Real Estate sets up CEE office in Vienna

by Property Forum
Allianz Real Estate has opened a new office in Vienna and appointed a new director to help strengthen the company’s presence across the region. Thomas Villadsen was named Director of Austria and Central & Eastern Europe (CEE).
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News Immofinanz rejects Starwood’s bid
28
Mar
2018

Immofinanz rejects Starwood’s bid

by Property Forum
Last week an affiliate of U.S. private equity firm Starwood Capital Group (SOF-11 Starlight 10 EUR) announced that it intends to make a voluntary partial public takeover offer for the acquisition of up to 5% in Immofinanz. The Executive Board of Immofinanz determined that the offer price is too low.
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News Immofinanz and CA IMMO halt merger
28
Feb
2018

Immofinanz and CA IMMO halt merger

by Property Forum
The Supervisory Board and Executive Board of Immofinanz AG decided to continue the suspension of detailed discussions over a possible merger between CA Immobilien Anlagen AG (CA Immo) and Immofinanz for the time being and to also evaluate other strategic options.
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News Immofinanz reaches refinancing volume of €1.6 billion in FY 2017
20
Dec
2017

Immofinanz reaches refinancing volume of €1.6 billion in FY 2017

by Property Forum
Immofinanz refinanced approximately €1.6 billion of financial liabilities during the 2017 financial year. This volume represents roughly 60% of the group’s financial liabilities as of 30 September 2017 and covers extensions as well as new borrowings. The transactions will reduce future interest expense by roughly €18.3 million per year.
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News 2018 will bring new opportunities for expansion
07
Dec
2017

2018 will bring new opportunities for expansion

by Property Forum
2017 has not ended yet, but it is safe to say that it has been a record year for the CEE property market. The period of strong growth is not over yet, market sentiment is positive and all signs point to 2018 bringing new opportunities for expansion in the property business. In times like these it is especially important to find the time to share knowledge and make new connections, which is why Property Forum will continue to provide a meeting point for the CEE property industry. In 2018 Property Forum events will be held in Bratislava, Bucharest, Prague, Vienna and – for the first time – in Warsaw.
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News CA Immo appoints Andreas Quint as new CEO
05
Dec
2017

CA Immo appoints Andreas Quint as new CEO

by Property Forum
Frank Nickel (58), CEO of CA Immobilien Anlagen AG, decided to leave the company for health reasons, in mutual agreement with the company with effect as of 31 December 2017 the earliest but in any event not later than 31 March 2018.
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News Immofinanz posts increase in net profit
29
Nov
2017

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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Latest news


New leases

  • Gemini Park Tarnów will see the debut of the first Unisono shop in eastern Małopolska. The new tenant will occupy a 152 sqm unit. The store will open later this year.
  • The Gemini Park Tychy shopping centre is extending cooperation with its long-standing partner, the Silesia Jeans brand. The multibrand, which offers brands such as Levi's, Mustang, Lee and Wrangler, will soon open its second shop in the Tychy mall. The new store will be filled with clothes and accessories from two American fashion brands: Tommy Jeans and Calvin Klein Jeans. The new unit will be 140 sqm in size and is scheduled to open in the first quarter of 2023.
  • Building E belonging to the Nowy Rynek complex developed by Skanska in Poznań, although still under construction, is already attracting its future tenants. The international company Wunderman Thompson Technology will open its office here on approximately 2,000 sqm.

New appointments

  • 108 Agency promoted Matej Indra to Head of Industrial Agency for the Czech Republic.
  • Michał Ozimek has joined the Valuation department at Corees Polska - Commercial Real Estate, taking up the position of Senior Valuation & Investment Analyst. Working in the agency's Warsaw branch, he will be responsible for supporting processes related to the development of property valuations.
  • P3 Logistic Parks strengthens its team in Poland. Having worked as Deputy Head of Leasing since 2019, Iwona Sadowska has now been promoted to the position of Head of Leasing.


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