ARTICLES LABELLED WITH TAG Immofinanz

News Immofinanz and S Immo explore merger
23
Jan
2023

Immofinanz and S Immo explore merger

by Property Forum
Property groups Immofinanz and S Immo said they are reviewing further alignment, coordination, merger or other forms of integration, with CPI Property Group (CPIPG) as supporting shareholder. 
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News Immofinanz ends 2022 with significant retail portfolio expansion
30
Dec
2022

Immofinanz ends 2022 with significant retail portfolio expansion

by Property Forum
Immofinanz has significantly expanded its retail portfolio in the 2022 financial year. As a result of acquisitions and completions, the portfolio has grown from 111 to 169 locations in ten European countries over the course of the year, with a carrying amount of approximately €2.3 billion (excluding S Immo). Rentable space increased by nearly 30% to approximately 1.36 million sqm.
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News Immofinanz increases shareholding in S Immo to over 50%
20
Dec
2022

Immofinanz increases shareholding in S Immo to over 50%

by Property Forum
Immofinanz is acquiring 17,305,012 shares in S Immo AG from its core shareholder, CPI Property Group, thus obtaining a controlling stake in S Immo of 50% plus one share. The purchase price amounts to €337.5 million or €19.5 per S Immo share. The transaction will be financed through a long-term credit facility provided to Immofinanz by CPIPG. The share purchase agreement was signed on 19 December 2022. The closing of the transaction will take place before the end of 2022. Consequently, Immofinanz will fully consolidate S Immo in the 2022 annual financial statements.
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News Former Immofinanz exec takes over company’s affordable housing concept
25
Nov
2022

Former Immofinanz exec takes over company’s affordable housing concept

by Property Forum
Immofinanz is concentrating on the strategic growth areas of retail properties and myhive office solutions in the current market environment and has sold the rights for joint use of the development concept for sustainable and affordable housing over single-storey buildings to Dietmar Reindl. This innovative residential concept will now be expanded to include implementation by this former Immofinanz Executive Board member under his own flag outside the Immofinanz Group. Immofinanz retains the right to implement the concept on its own properties at any time and remains the owner of the On Top Living brand.
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News Immofinanz’s net profit reaches €249 million in Q1-Q3 2022
24
Nov
2022

Immofinanz’s net profit reaches €249 million in Q1-Q3 2022

by Property Forum
In the first three quarters of 2022, Immofinanz’s rental income reached a high €216.9 million, the results of asset management improved by 3.2% to €168.4 million, and sustainable FFO 1 from the standing investment business (including the S Immo dividend) rose by more than 15% to €115.9 million. Net profit equalled €248.6 million.
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News Immofinanz wants to increase shareholding in S Immo to over 50%
21
Nov
2022

Immofinanz wants to increase shareholding in S Immo to over 50%

by Property Forum
Immofinanz has received approval from its Supervisory Board to enter into negotiations with its core shareholder CPI Property Group concerning the acquisition of shares in S Immo. Currently, Immofinanz directly holds approx. 26.49% of S Immo. CPIPG directly holds 52.7% of S Immo, which may further increase as a result of CPIPG’s mandatory takeover offer over S Immo.
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News Immofinanz to sell Bucharest office building
17
Nov
2022

Immofinanz to sell Bucharest office building

by Property Forum
Property group Immofinanz, controlled by CPI Property Group (CPIPG), is reportedly negotiating the sale of its Băneasa Airport Tower office building in northern Bucharest.
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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 Immofinananz opens Stop Shop in Zielona Góra
28
Sep
2022

Immofinananz opens Stop Shop in Zielona Góra

by Property Forum
Immofinanz has opened its eleventh Stop Shop strip mall in Poland. It is located in Zielona Góra, close to the German border.
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Latest news


New leases

  • Intersport will open a new large outlet in the recently refurbished GOBUDA Mall in Budapest in Q3 2023. The firm joins German retailer Wellensteyn and Hungarian retailer Budmil, both started to trade there in March. A new Wok'n Go restaurant will be available in the mall in the Summer.
  • Wolt has leased office space in Warsaw's Lumen building. As a result of the transaction, the new tenant has taken nearly 900 sqm. The office building in the centre of Warsaw is owned and managed by Globalworth Poland.
  • Lighting company Wojnarowscy has agreed a lease renewal for 3,870 sqm of warehouse and office space in Panattoni Park Sosnowiec II. The tenant was advised on the lease renegotiation by experts of real estate advisory firm Newmark Polska.

New appointments

  • CPI Property Group is expanding its retail leasing department. Dariusz Kafara has been appointed as the new Leasing Manager. At the Warsaw branch of the company, Dariusz is responsible for maintaining the maximum level of commercialisation in two retail park chains from the group's portfolio - CityMarket and STOP SHOP.
  • Brian Nyeng Olesen, formerly head of commercial at the Salling Group, has been appointed as the new managing director of Netto Polska. The position was previously held by Hugo Mesquita.
  • M Core appoints Magdalena Kowalewska as the new Chief Operating Officer at LCP Properties, Poland. This comes at the same time that Krystian Modrzejewski has accepted a post as the Group Head of Expansion for Poland, where he will be responsible for realising the opportunity for land and asset acquisition in aid of portfolio growth. LCP Properties Poland is part of the M Core group, which brings together family-owned companies that invest in and manage real estate. It comprises LCP, Proudreed, Sheet Anchor, GIPAM and Evolve Estates.


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