ARTICLES LABELLED WITH TAG Immofinanz

Immofinanz announced on 29 January 2021 that RPR Privatstiftung has concluded a share purchase agreement on the sale of its share in RPPK Immo GmbH with Revenite Austria S.à.r.l. on 29 January 2021 and that this share purchase agreement is subject to the condition precedent that Eurovea Services s.r.o., which holds the second share in RPPK Immo GmbH in addition to RPR Privatstiftung, consents to the transfer by 31 March 2021 at the latest.

Immofinanz announced on 14 March 2021 to launch a voluntary public takeover offer to the shareholders of S Immo to acquire a controlling interest pursuant to section 25a of the Austrian Takeover Act. The offer price per share of S Immo AG has been announced as €18.04 on a cum-dividend basis. Immofinanz announces that the Executive Board and the Supervisory Board of Immofinanz have resolved upon an increase of the offer price to €22.25 on 25 March.

Immofinanz has acquired the former HQ of BCR in Bucharest for €36 million, both companies announced. The property will be modernized and transformed into a green myhive building, with at least a Gold certification.

The Austrian Takeover Commission notified Immofinanz that a review procedure is being initiated with respect to Immofinanz as the target company.

The Management Board and the Supervisory Board of Immofinanz have decided to launch a voluntary public takeover offer to acquire a controlling interest pursuant to Section 25a of the Austrian Takeover Act for all outstanding no-par value bearer shares of S Immo not owned by the bidder.

Major upgrades have launched recently in the myhive Haller Gardens office building, owned by Immofinanz in Budapest and a showroom has been completed in the first phase as planned. The large-scale renovation will affect the entire office building. In addition to the significant energy and technical improvements, the building’s exterior facade, community and office spaces, restaurant and café will be renovated, just as the roof terrace and surrounding garden that will be significantly rebuilt.

Immofinanz CEO Ronny Pecik has signed as agreement to sell his stake in the Austrian company and consequently intends to submit his resignation from Immofinanz’s executive board.

Immofinanz has received a building permit for the newest planned project under the Stop Shop brand in Zielona Góra. The beginning of construction works is planned in the nearest future and the completion of the new Stop Shop Zielona Góra retail park is scheduled for the turn of 2021/2022.  

Immofinanz is continuing the expansion of its Stop Shop retail park brand, as announced, and has added eight locations to the portfolio shortly before the end of the year. Six fully rented retail parks in Serbia and the Czech Republic with roughly 43,000 sqm were purchased from Mitiska REIM, a Belgian investor specialised in these types of commercial properties. In addition, Immofinanz closed the purchase of a fully rented retail park (approx. 5,500 sqm) in Voitsberg, Austria, during the fourth quarter of 2020. The portfolio in Croatia will be increased by one property in the city of Ludbreg.

Immofinanz has sold another 3 ha plot of the former IUS industrial platform in Brașov, to an undisclosed real estate developer. The price is estimated at around €7 million, according to economica.net.