ARTICLES LABELLED WITH TAG Immofinanz

07
Jan
2021

Another Stop Shop from Immofinanz in Zielona Góra

by Property Forum
Immofinanz has received a building permit for the newest planned project under the Stop Shop brand in Zielona Góra. The beginning of construction works is planned in the nearest future and the completion of the new Stop Shop Zielona Góra retail park is scheduled for the turn of 2021/2022.  
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18
Dec
2020

Immofinanz acquires eight retail parks in CEE

by Property Forum
Immofinanz is continuing the expansion of its Stop Shop retail park brand, as announced, and has added eight locations to the portfolio shortly before the end of the year. Six fully rented retail parks in Serbia and the Czech Republic with roughly 43,000 sqm were purchased from Mitiska REIM, a Belgian investor specialised in these types of commercial properties. In addition, Immofinanz closed the purchase of a fully rented retail park (approx. 5,500 sqm) in Voitsberg, Austria, during the fourth quarter of 2020. The portfolio in Croatia will be increased by one property in the city of Ludbreg.
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30
Nov
2020

Immofinanz sells 3 ha land in Brașov

by Property Forum
Immofinanz has sold another 3 ha plot of the former IUS industrial platform in Brașov, to an undisclosed real estate developer. The price is estimated at around €7 million, according to economica.net.
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26
Nov
2020

Immofinanz records rental income increase in Q1-Q3 2020

by Property Forum
Immofinanz recorded an increase in rental income and in the results of asset management and property sales during the first three quarters of 2020 despite the COVID-19 crisis. FFO 1 (before tax) was only slightly lower than the previous year at €89.2 million. After an adjustment for the straight-lining of a bond coupon payment in Q1 2020 over 12 months, FFO 1 improved by 10.1% to €92.4 million. The capital measures carried out in Q3 2020 strengthened the equity ratio and reduced the net LTV to 38.4%. The strong cash position of €601.9 million at the end of September was increased to approximately €1.2 billion by the benchmark bond issued in October and an undrawn credit line.
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20
Oct
2020

Savills becomes PM for Immofinanz’s Prague office portfolio

by Property Forum
Immofinanz has appointed Savills as sole property manager for its portfolio of seven office buildings in Prague, Czech Republic, with effect from January 2021. The total floor area of the assets is approximately 123,000 sqm.
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09
Oct
2020

Immofinanz completes placement of a €500 million bond

by Property Forum
Immofinanz successfully placed €500 million fixed-rate senior unsecured notes with a 7-year maturity and a 2.50% fixed coupon on 8 October 2020. The net proceeds of the issue of the notes will be used to refinance existing debt, capitalize on value-creating growth opportunities, and for general corporate purposes. The issuance was oversubscribed around 2 times with strong demand by more than 110 investors.
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03
Sep
2020

Immofinanz takes €2 million stake in spaceOS

by Property Forum
spaceOS has announced a new capital raise totalling €2.5 million. The latest funding comes after Austrian commercial real estate group Immofinanz took a €2 million stake in spaceOS, further strengthening the firms’ partnership, following a deal in December to roll-out the spaceOS platform across the group’s entire portfolio. Existing investors BeyondBuild also contributed an additional €0.5 million to this funding round.
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27
Aug
2020

Immofinanz’s net profit negatively influenced by COVID-19

by Property Forum
Immofinanz started the 2020 financial year with strong operational performance, but the development of business in the second quarter was negatively influenced by the COVID-19 pandemic. Rental income rose by 10.4% to €145.5 million due to the expansion of the portfolio through acquisitions and completions, but a crisis-related increase in receivables write-offs led to substantially higher property expenses.
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16
Jun
2020

Immofinanz announces extension of Executive Board appointments

by Property Forum
The Supervisory Board of Immofinanz extended the Executive Board appointments for COO Dietmar Reindl and CFO Stefan Schönauer for a period of five years as of 1 May 2021, i.e. to 30 April 2026. The composition of the Executive Board remains unchanged with Ronny Pecik (CEO), Dietmar Reindl (COO) and Stefan Schönauer (CFO).
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28
May
2020

Immofinanz reports negative net profit for Q1 2020

by Property Forum
Immofinanz’s rental income in Q1 2020 rose by 13.4% to € 74.0 million, above all due to the expansion of the portfolio through acquisitions and completions as well as a growth of 1.9% in like-for-like rental income. The results of asset management increased by 18.1% to €59.5 million, and the results of operations were 18.0% higher at €43.5 million. However, the revaluation results of €-45.0 million from standing investments and goodwill reflect the adverse effects of the COVID-19 pandemic. Net profit for Q1 2020 was, therefore, negative at €-37.6 million.
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Latest news


New leases

  • 108 Agency has leased 280 sqm of commercial space for Bikero, a supplier of sports equipment, at BB Centrum Building B in Prague, owned by Passerinvest Group. The opening will take place in Q1 2021.
  • Business intelligence company MicroStrategy Poland has signed a lease agreement for 3,000 sqm of office space at Karimpol Polska's flagship investment, Skyliner in Warsaw. The tenant was represented in the negotiation by AXI IMMO.
  • TEREZ Performance Polymers, a producer of engineering plastics, has leased more than 5,000 sqm of warehouse space in 7R City Flex Rzeszów Airport (Poland). The tenant was advised during the transaction by real estate advisory firm Savills.

New appointments

  • Alina Dima was promoted Senior Property Manager at Cushman Wakefiled Echinox in Romania. With 11 years of experience, she will coordinate all suppliers and teams involved.
  • Cushman & Wakefield announced that Magsud Rahmanov MRICS was appointed Head of Hotel Transactions CEE & SEE.
  • Krzysztof Poznański has replaced Radosław Knap as Managing Director of the Polish Council of Shopping Centers.


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