In early December 2021, S Immo announced a partial takeover to the shareholders of Immofinanz, only three days after a similar offer was made by CPI Property Group. Today, the Executive Board, Supervisory Board and Works Council of Immofinanz have issued statements in which they indicate that the offer price of €23.00 per share is viewed as not sufficiently attractive. The Executive Board and Supervisory Board, therefore, recommend that shareholders not accept the partial offer by S Immo for approximately 10% of the outstanding Immofinanz shares.

CPI Property Group has announced an anticipatory mandatory takeover offer for all outstanding shares of Immofinanz AG. Shareholders are to be offered €21.20 in cash per Immofinanz share. Immofinanz said that it will review the offer in detail and will comment on it in due course in accordance with the Austrian Takeover Act.

The Management Board and Supervisory Board of CA Immo have decided to start evaluating all strategic options for the core market of Romania, including a potential sale of the entire portfolio. The company published its interim results for Q1-Q3 2021.

In 2021, the excess demand in the Austrian apartment building market will continue to lead to solid increases in the values of residential and commercial buildings. However, according to Arnold Investments, prices in very good and good locations have currently stabilised at a high level. Entry-level prices for local properties within the “Gürtel” (beltway) are currently starting at €4,000 to €5,000 per square metre.

CEE’s leading real estate event since 2013 is back! Property Forum’s annual conference, CEE Property Forum 2021 on 20-21 September, will gather hundreds of visitors and 60 speakers that will discuss hot button issues – live and in person.

Markus Arnold, CEO of Arnold Investments talked to Property Forum about the current state of the European property investment market and the important role advisors play in it. He also shared details about the company’s expansion strategy for the coming period.

Immofinanz generated strong growth in the results of operations and net profit during the first half-year. The expansion of the portfolio through acquisitions in Bucharest and Italy during recent months will be continued. The acquisition and development project pipeline has a volume of more than €1 billion. 

CA Immo's operating result (EBITDA) of €114.9 million for H1 2021 was up 27% on the previous year's figure.

“An Investment in commercial property is attractive to investors who want to invest their money and generate higher yields. Commercial real estate investments are also becoming more popular with private investors to complement the portfolio”, explains Markus Arnold, CEO of Arnold Investments. This trend led to a strong half-year performance in the commercial sector for the investment brokers. With a transaction volume of about €100 million and 90,000 sqm of space brokered, the company declared a healthy six-month balance. “Two thirds of the transactions were concluded in Austria and one third in our other European branches where further deals are imminent. In most of the deals both buyers and sellers are advised by Arnold Investments”, reports Markus Arnold in greater detail.

SOF-11 Klimt CAI S.a.r.l., a controlled subsidiary of Starwood Capital Group, has decided to increase the offer price from €35.00 (dividend-adjusted) to €37.00.