ARTICLES LABELLED WITH TAG Immofinanz

News Immofinanz rents over 80,000 sqm of office space in Bucharest
28
Feb
2017

Immofinanz rents over 80,000 sqm of office space in Bucharest

by Ákos Budai
Immofinanz rented approx. 80,000 sqm of office space in Bucharest during the abbreviated 2016 financial year. That represents more than 40% of the total standing office portfolio in Romania. These transactions are expected to increase the occupancy rate in the office sector in Romania from roughly 88% to more than 94%. New rentals and expansions accounted for roughly 47,000 sqm or 60% of the rented space, while the remainder represents contract extensions. 
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News Immofinanz delays merger with CA Immo
19
Dec
2016

Immofinanz delays merger with CA Immo

by Ákos Budai
Immofinanz AG has announced a change in the preliminary timetable for the intended merger with CA Immobilien Anlagen AG. The reason is the planned divestment of Immofinanz’s Russian property portfolio, which is a condition for the merger of the two companies. The Executive Board and Supervisory Board of Immofinanz today decided to schedule a longer period than originally considered for the process to separate the Russian properties. The recent stabilisation of the economy in Russia has contributed to this decision. 
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News Immofinanz sells non-core retail portfolio in Austria
19
Dec
2016

Immofinanz sells non-core retail portfolio in Austria

by Ákos Budai
Immofinanz has announced the sale of a smaller Austrian retail portfolio to an Austrian real estate investor and, with this transaction, continues its strategic withdrawal from properties that are not part of the core business. The portfolio covers 88 properties with approx. 108,000 sqm of rentable space in eight Austrian provinces. The parties to the transaction have agreed not to disclose any information on the purchase price. The closing will take place in several steps through the end of 2017. 
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News Immofinanz announces three new Stop Shop locations in Serbia
09
Dec
2016

Immofinanz announces three new Stop Shop locations in Serbia

by Ákos Budai
Immofinanz is continuing the expansion of its Stop Shop retail park chain in Serbia. Three new locations will be added in Požarevac, Lazarevac and Vršac, with a total of 23,800 sqm of rentable space. The individual projects are in different stages, but should all be completed before the end of 2017. 
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News Immofinanz acquires retail parks in Slovakia and Hungary
14
Nov
2016

Immofinanz acquires retail parks in Slovakia and Hungary

by Ákos Budai
Immofinanz is continuing the expansion of its successful Stop Shop retail park portfolio with the acquisition of eight locations in Slovakia and Hungary. The purchase price for these properties totals approx. €79.0 million. The newly acquired retail parks have an occupancy rate of roughly 98% and generate annual rental income of approx. €6.6 million. The transactions will close in several steps, presumably by the end of the first quarter of 2017. Immofinanz‘s Stop Shop portfolio will then cover 66 locations in seven countries with roughly 449,000 sqm of rentable space and a book value of more than EUR 600.0 million. Further locations in Serbia and Poland are currently in the preparation phase for project development. 
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News Immofinanz starts retail development in Poland
25
Oct
2016

Immofinanz starts retail development in Poland

by Ákos Budai
Immofinanz will soon start construction on a further shopping centre under its VIVO! brand in the Polish city of Krosno. The new shopping centre will have approx. 21,000 sqm of rentable space for more than 60 shops. Pre-rentals are successfully underway, with the future tenants including H&M, Media Markt and Helios Cinema. The investment costs will total approx. €34 million, and the opening is planned for the fourth quarter of 2017. The VIVO! Krosno will be the third VIVO! shopping centre in Poland. 
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News Immofinanz publishes Q1 2016A operating results
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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News Immofinanz secures refinancing of Warsaw office building
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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News Immofinanz completes the purchase of CA Immo shares
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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News Immofinanz reports net profit negatively influenced by Russia
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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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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