Immofinanz has just leased the last free unit in its Hungarian Stop Shop portfolio, reaching a 100% occupancy rate. The newest and last tenant is Sportisimo in Stop Shop Keszthely. The company has roughly 136,000 sqm of fully leased retail space in 14 locations across Hungary.
Immofinanz has announced that the Supervisory Board has appointed Radka Doehring as a member of the Executive Board as of 1st May 2022 for three years.
The 2021 financial year brought a massive increase in Immofinanz’s earning power. The results of operations rose by roughly 46% to €210.1 million and clearly topped the previous year as well as the pre-crisis period in 2019. Net profit improved significantly to €345.8 million, compared with the crisis-related loss of €-165.9 million in the previous year.
S Immo has received a request from shareholder CPI Property Group to convene an extraordinary shareholders' meeting. The motion is to resolve the abolishment of the 15 % voting cap set in the Articles of Association of S Immo. In addition, CPI Property Group has announced its intention to make a mandatory offer for all shares in S Immo not held by CPI. At the moment, CPIPG, directly and indirectly, owns a total of 42.6% in S Immo.
Almost 40,000 sqm was leased in retail and 25,000 sqm in the office segment. From the beginning of 2022, the entire office portfolio fully relies on green energy.
Austrian property investor Immofinanz has opened its first coworking space in Bucharest, under the mycowork brand, the flexible office component of myhive.
Property group Immofinanz has presented its new residential brand On Top Living during MIPIM, the biggest real estate fair held in Cannes. The company plans to develop up to 12,000 smart and sustainable apartments at affordable prices in the medium term.
Immofinanz today received a request to convene an extraordinary general meeting, together with an agenda covering elections to the Supervisory Board. According to the convocation request, CPIPG holds an investment (directly and indirectly) of approximately 54.86% in Immofinanz and recommends (via its subsidiary WXZ1 a.s.) two new members for election by the general meeting.
With the ending of the acceptance period of its takeover offer for Immofinanz, CPI Property Group announced that it will soon hold at least 53.33% of Immofinanz’s share capital and voting rights.
The Executive Board and Supervisory Board of Immofinanz have issued supplementary statements on the announcement by CPI Property Group SA (CPIPG) of the increase in the offer price to €23.00 per share (cum dividend) and increase in CPIPG’s investment in Immofinanz to roughly 48.18% through the purchase of shares from S Immo AG. The Executive Board and Supervisory Board still view the improved offer price as too low given the successful development of Immofinanz and the current value of the company. Moreover, the offer price does not include an appropriate control premium in connection with CPIPG’s intention to attain control over Immofinanz.
Elegance Decor, the home & deco company, has leased 400 sqm in Bucharest-based Equilibrium 1 for its new office. The building has a total leasable area of 20,700 sqm and was developed by Skanska.
Majorel Polska, an international outsourcing services provider has extendied a lease agreement for the next 2 years and leased additional 400 meters for a new project - IT Hub in recently modernised Globis Poznań by GTC. It now occupies 3 200 sqm of A-class workspace. CBRE has advised Majorel Polska on concluding the lease contract.
NEPI Rockcastle Poland has extended its office lease agreement and enlarged its premises in the Cosmopolitan Twarda 4 building in Warsaw city centre. The shopping centre owner and operator now occupies 1,500 sqm of offices in the building.
New appointments
Tamás Kiss has joined Hungarian asset management company Diófa Alapkezelő Zt. and has been appointed deputy CEO. Previously he worked for several brokerage firms as a director of asset management and director of investment or compliance unit.
Tomasz Pietrzak, with MLP Group for more than five years, has been promoted to the position of Leasing Director Poland. Until recently responsible for the commercialisation of warehouse space in the Warsaw region, now he will manage leases across Poland.
Savills has hired Dušan Drábek who joins its industrial agency team with immediate effect. Based in Savills Prague office, the new Associate Director will work alongside the Head of Industrial Agency, Chris LaRue.
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