ARTICLES LABELLED WITH TAG CPIPG

News Immofinanz completes further property sales in CEE
03
Nov
2022

Immofinanz completes further property sales in CEE

by Property Forum
Immofinanz has successfully completed the sale of additional office properties. Two office buildings in Vienna were sold to the Austrian Winegg Group for an attractive market price of approximately €60 million. These two properties have 7,000 sqm of space in total and are occupied by long-term tenants.
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News Immofinanz to sell Hungarian office portfolio to S Immo
28
Sep
2022

Immofinanz to sell Hungarian office portfolio to S Immo

by Property Forum
Immofinanz has signed a letter of intent for the sale of its Hungarian office properties to S Immo. This transaction is taking place through close cooperation within the CPI Property Group to realise synergy effects and can be used to extend Immofinanz’s myhive office solutions to the entire group. The Hungarian portfolio includes six buildings in Budapest with roughly 124,000 sqm of rentable space. The closing of the transaction could take place before the end of 2022.
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News Immofinanz acquires €324 million retail portfolio from CPIPG
19
Sep
2022

Immofinanz acquires €324 million retail portfolio from CPIPG

by Property Forum
As part of its value-creating growth strategy with a focus on high-return properties, Immofinanz is acquiring 53 retail properties in the Czech Republic, Poland, Slovakia and Hungary from its majority shareholder CPI Property Group (CPIPG). The acquired portfolio has roughly 217,000 sqm of rentable space and is fully let with an occupancy rate of 99%. The purchase price totals €324.2 million. The purchase contract was signed today, together with the closing for 36 retail properties in the Czech Republic and Poland which have 108,000 sqm of rentable space. The purchase price of €191 million for those properties was financed from existing funds. The closing for the remaining 17 properties in Hungary and Slovakia is expected to take place by the end of this year.
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News The market is still going through an ESG learning curve
15
Sep
2022

The market is still going through an ESG learning curve

by Vera Tumova
Rising financing costs do not help when it comes to planning ESG-related CapEx. However, most landlords wish to keep their buildings attractive to occupiers and higher energy costs are bringing the discussion of energy-efficient buildings into sharper focus, says CPI Property Group’s Non-Executive Director and Chairman of ESG Committee, Omar Sattar.
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News CPIPG takover brings changes in S Immo’s Management Board
08
Sep
2022

CPIPG takover brings changes in S Immo’s Management Board

by Property Forum
Following the completion of the mandatory offer by CPI Property Group in relation to S Immo, the Supervisory Board and the acting Chairman of the Management Board, Dr. Bruno Ettenauer, have mutually agreed that Mr. Ettenauer's Management Board contract terminated at the end of 6 September 2022.
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News CPIPG increases portfolio value to €20.9 billion
01
Sep
2022

CPIPG increases portfolio value to €20.9 billion

by Property Forum
CPI Property Group's real estate portfolio increased to €20.9 billion in the first half of 2022. It was the result of two large acquisitions of Immofinanz and S Immo and therefore also the net rental income reached the level of €263 million and net business income went up to €276 million, CPIPG reported in the latest press release on half-year financial results for 2022.
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News CPIPG's expansion plans in Italy come to a halt
25
Aug
2022

CPIPG's expansion plans in Italy come to a halt

by Property Forum
The Rome City Hall has not approved the plan to build a new stadium for the AS Roma football club on a brownfield site, which until recently was the favourite for this development and which is owned by the CPIPG group. According to the Italian media, the group wanted to invest €5 billion there. Its further Italian expansion is thus slowing down. Alongside the impact of the Covid pandemic and the war in Ukraine, this is another blow to the group's business plans in Italy, writes E15.cz.
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News Immofinanz’s net profit reaches €163 million in H1 2022
25
Aug
2022

Immofinanz’s net profit reaches €163 million in H1 2022

by Property Forum
In H1 2022, Immofinanz's rental income reached a high level of €144.2 million, the results of asset management improved by 3.0% to €110.0 million, and sustainable FFO 1 from the standing investment business rose by 6.1% to €78.7 million. Net profit equalled €162.7 million, whereby the first half of the previous year was influenced, above all, by a substantial revaluation of the investment in S Immo. With an equity ratio of 57.3% and conservative debt with a net LTV of 32.5%, Immofinanz has a strong capital base.
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News Immofinanz to sell assets worth €1 billion in line with new strategy
24
Jun
2022

Immofinanz to sell assets worth €1 billion in line with new strategy

by Property Forum
Immofinanz is presenting an updated strategy following the majority takeover by CPI Property Group. The company plans to continue its value-creating growth strategy with a strong focus on retail properties and office solutions. As part of an active portfolio management, properties with a value of approximately €1 billion will be sold and the proceeds invested in higher-yielding assets. The successful course of the company will be continued on Immofinanz’s robust financial base together with the strengthening of ESG activities. Immofinanz will benefit in pursuing this strategy from close cooperation with the CPI Property Group and the related synergy effects.
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News CPIPG says no to Immofinanz’s annual dividend payment
10
Jun
2022

CPIPG says no to Immofinanz’s annual dividend payment

by Property Forum
Immofinanz was informed by its primary shareholder CPI Property Group that CPIPG has decided not to support a proposal to the upcoming ordinary shareholders’ meeting of Immofinanz for the distribution of a dividend for the financial year 2021.
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Latest news


New leases

  • The Mobile Vet and Mobile Pet chain has leased space in Bucharest-based One Cotroceni Park for the opening of a new veterinary clinic and pharmacy in which it has invested around €500,000. The transaction was brokered by Cushman & Wakefield Echinox.
  • The Skechers chain has opened a new store in Manufaktura in Łódź. It has the size of 150 sqm.
  • IT company Tata Consultancy Services, has moved into the Wola Center building in Warsaw. The company occupies 3,600 sqm there. At the same time, the owner of the complex, Hines European Value Fund, extended its contract with FaktorOne (470 sqm).

New appointments

  • Carrefour has announced changes to the management of its branch in Poland. As of 1st of June, the position of Commercial and Supply Chain Director of Carrefour Poland was taken over by Eric Yung. Tomasz Waligórski was appointed Chief Operating Officer.
  • At Nhood Services Poland, Agnieszka Gutowska was appointed Head of Brand Marketing & Communication. She will responsible for shaping the brand image in Poland, taking into account the competences of the three business lines Property & Asset Services (PAS), Development (DEV) and Resources, Fund & Investment (RFI).
  • Robert Rogowski, former Vice President of the Management Board of Invest TDJ Estate, has been dismissed from his position. Magdalena Sierankiewicz has been appointed in his place.

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