ARTICLES LABELLED WITH TAG Immofinanz

News Immofinanz records rental income increase in Q1-Q3 2020
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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News Savills becomes PM for Immofinanz’s Prague office portfolio
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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News Immofinanz completes placement of a €500 million bond
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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News Immofinanz takes €2 million stake in spaceOS
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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News Immofinanz’s net profit negatively influenced by COVID-19
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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News Immofinanz announces extension of Executive Board appointments
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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News Immofinanz reports negative net profit for Q1 2020
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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News Immofinanz plans renovation of Budapest office building
20
May
2020

Immofinanz plans renovation of Budapest office building

by Property Forum
Immofinanz plans major upgrades at its myhive Haller Gardens office building in Budapest, including new services for the tenants. The owner expects demand to increase for more flexible workspace solutions and plans to alter leasing conditions accordingly.
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News Immofinanz expects negative effect from property valuation
14
May
2020

Immofinanz expects negative effect from property valuation

by Property Forum
Immofinanz expects a substantial improvement in rental income and the results of operations for the first quarter of 2020. The estimated increases range from 13.0% to 15.0% versus Q1 2019.
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News Immofinanz appoints new CEO
23
Apr
2020

Immofinanz appoints new CEO

by Property Forum
The Supervisory Board of Immofinanz resolved upon the appointment of Ronny Pecik as member of the Executive Board of the company for three years starting with 4 May 2020. Ronny Pecik will be Chief Executive Officer (CEO).
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Latest news


New leases

  • Woolworth Polska has leased almost 1,000 sqm of space in DL Shopping Park Mikołów, a retail park under construction in the Silesian voivodship.
  • A Reserved store has been reopened in Gemini Park Tarnów. The outlet has gained a new location in the facility and now occupies an area 300 sqm larger.
  • Another new building within the Dekada Grójec retail park has been opened in Grójec. The new part included a Douglas perfumery, which occupied around 200 sqm.

New appointments

  • Angelika Kliś has resigned from her position as a member of Atal's management board, the company announced in a press release. The reason for the resignation was not given.
  • Carrefour has announced changes to the management of its branch in Poland. As of 1st of June, the position of Commercial and Supply Chain Director of Carrefour Poland was taken over by Eric Yung. Tomasz Waligórski was appointed Chief Operating Officer.
  • At Nhood Services Poland, Agnieszka Gutowska was appointed Head of Brand Marketing & Communication. She will responsible for shaping the brand image in Poland, taking into account the competences of the three business lines Property & Asset Services (PAS), Development (DEV) and Resources, Fund & Investment (RFI).

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