ARTICLES LABELLED WITH TAG Immofinanz

22
Sep
2016

Immofinanz publishes Q1 2016A operating results

by Ákos Budai
The operating results recorded by Immofinanz were stable in year-on-year comparison at EUR 45.3 million in the first quarter of the abbreviated 2016 financial year (Q1 2015/16: EUR 46.9 million). Rental income fell from EUR 82.2 million to EUR 76.8 million due to temporary rent reductions in Moscow and the planned sale of properties. 
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10
Aug
2016

Immofinanz secures refinancing of Warsaw office building

by Ákos Budai
pbb Deutsche Pfandbriefbank provided an investment facility of €34 million to IMMOFINANZ. The proceeds will be utilized for the refinancing of the Nimbus office building in Warsaw. The transaction closed in July 2016. 
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02
Aug
2016

Immofinanz completes the purchase of CA Immo shares

by Ákos Budai
Immofinanz has completed the purchase of 25,690,163 bearer shares (representing an investment of approx. 26%) of CA Immobilien Anlagen AG from Terim Limited (Cyprus) and four registered shares of CA Immo from O1 Group Limited (Cyprus). The closing took place today, on Tuesday, 2 August 2016. The purchase price for the package totals approx. EUR 604 million. 
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28
Jul
2016

Immofinanz reports net profit negatively influenced by Russia

by Ákos Budai
Immofinanz recorded net profit of EUR -390.4 million for the 2015/16 financial year (2014/15: EUR -376.6 million). The year-on-year decline resulted primarily from EUR -469.8 million of negative effects from the foreign exchange-adjusted valuation of the Russian portfolio and from a decrease in rental income to EUR 314.5 million (2014/15: EUR 385.6 million) which was caused by temporary rent reductions in Moscow and the planned sale of properties.
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19
Jul
2016

Immofinanz sings new leases in Budapest

by Ákos Budai
Immofinanz has signed several lease agreements since the beginning of the calendar year 2016 accounting for approximately 40,000 sqm of its Hungarian portfolio. Of this figure, prolongation of leases accounts for more than 25,500 sqm, and new and expanded contracts sum up at 14,500 sqm.
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30
Jun
2016

Immofinanz expands in Poland

by Ákos Budai
Immofinanz is continuing the expansion of its STOP SHOP retail park chain at a fast pace: the 57th location was opened today in the Polish city of Szczytno. After Niš in Serbia and Świnoujście in Poland, this represents the third project completion in two months and the next locations have already been identified. A STOP SHOP will open in the Serbian city of Valjevo during early autumn, and in Poland preparations are underway for retail parks in Pultusk and Gdynia. These projects will raise the total number of STOP SHOPs to 60.
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09
Jun
2016

Immofinanz sells 18.5 million BUWOG shares

by Ákos Budai
Immofinanz today sold approx. 18.5 million BUWOG shares to SAPINDA Group, a company located in Amsterdam, London and Luxembourg. The price of EUR 19.00 per share – for a total of approx. EUR 352 million – is 3.5% higher than yesterday’s closing price of EUR 18.36. 
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10
May
2016

Immofinanz reports increase in office portfolio occupancy

by Ákos Budai
Immofinanz raised the occupancy level in its office standing investments by roughly seven percentage points to nearly 82% by the end of the 2015/16 financial year (as of 30 April 2016). Rentals in the office segment totalled approx. 388,000 sqm, or 29% of the total area, according to preliminary numbers. Of this total, 307,000 sqm are located in standing investments and 81,000 sqm in development projects. Roughly 40% of the standing investment rentals represent new contracts or contract expansions, while the remaining 60% are contract extensions with existing tenants. 
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18
Apr
2016

Immofinanz and CA Immo announces plan to merge

by Ákos Budai
IMMOFINANZ AG announced today that it has entered into an agreement to acquire 25,690,167 ordinary shares that represent ca. 26% of the outstanding share capital and voting rights in CA Immo from O1 Group Limited and Terim Limited. The acquisition is a first step towards a planned full combination of IMMOFINANZ and CA Immo by way of a statutory merger. Prior to the envisaged merger, IMMOFINANZ is planning to demerge or sell its Russian asset portfolio which is characterised by different market dynamics and a higher risk profile.
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Latest news


New leases

  • 108 Agency has mediated a lease of 7,700 sqm for the company DSV Solutions in Prologis Park Prague-Airport. DSV Solutions provides and manages supply chain solutions.
  • TECH LIGHT, a manufacturer and designer of LED lighting profiles, has relocated to Panattoni A2 Warsaw East Park, situated next to Stary Konik junction near Warsaw. The tenant moved into 1,200 sqm of warehouse and office space already in August. AXI IMMO provided comprehensive advisory services for TECH LIGHT.
  • Eli Lilly has extended its office lease of 900 sqm in Bucharest Business Park. The pharmaceutical company has been a tenant in the project since 2006. The office complex is owned by CA Immo. Real estate consultancy CBRE worked on the lease extension.

New appointments

  • From mid-October this year, Kornél Kalapács is taking up the position of Managing Director of Codic Hungary, the company announced. With around 30 years of experience in real estate development and construction, he will strengthen Codic's Hungarian subsidiary, which will hand over the Green Court Office A building under his management next month.
  • Mateusz Gołembiewski will head up JLL's HR organisation in the CEE and Russia region. He has 15 years of experience in developing company strategies and operations in this field, and will lead the HR teams in Poland, the Czech Republic, Romania, Slovakia, Hungary and Russia.
  • The Urban Land Institute (ULI) has announced the appointment of Søren Rodian Olsen, managing director of Logicenters at NREP as chair of ULI Poland. He succeeds Dorota Wysokińska-Kuzdra, senior partner at Colliers, and officially began his voluntary two-year term on 1 October 2021.


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