Immofinanz will be rebranded as CPI Europe following a proposal forwarded by the group’s majority shareholder CPI Property Group that was passed in a meeting of shareholders. 

Immofinanz Group has announced the completion of the minority shareholders of S Immo, at a price of €22.05 per share, as of December 3. 

Immofinanz Group posted a net profit of €50.9 million in the first nine months of 2024, recovering from a loss of €105.9 million in the same period of last year, over higher rental income and additional sales of assets.

Immofinanz signed a new five-year, €180 million green loan with Helaba, pbb Deutsche Pfandbriefbank and Berlin Hyp, secured by myhive Warsaw Spire, one of the tallest office towers in the capital of Poland with GLA of more than 71,000 sqm and a BREEAM Excellent certification. The green loan replaces a previous financing that was due to mature in January 2025.

Immofinanz Group is acquiring a further 28,241,094 shares in S Immo from its core shareholder CPI Property Group, thus increasing its stake in S Immo to around 89%.

Property investor Immofinanz has set the price of shares in the squeeze-out operation of S Immo and has established the adequate cash compensation.

Immofinanz Group, majority owned by CPI Property Group, recorded a rental income growth of 13% during H1 2024 to €292.5 million compared to the same period of last year and recorded a strong profit, according to a financial report.

Austrian real estate group Immofinanz, part of CPI Property Group, has sold its office complex Iride Park in northern Bucharest for around €45 million. 

AFI Europe has purchased the myhive Victoriei building in central Bucharest from Immofinanz for around €27 million. The new owner plans to turn the existing office building into a mixed-use project, with the conversion permit already secured.

The board of real estate group Immofinanz has approved a framework with CPI Property Group (CPIPG), which holds 75% of the company, which paves the way for future consolidation of the two groups.