ARTICLES LABELLED WITH TAG S Immo

25
Jun
2020

S Immo reopens almost all assets

by Property Forum
Shops, restaurants and hotels have opened again in nearly all of the markets in which the listed real estate investment company S Immo AG operates. Romania was the last to reopen, as the strict restrictions remained in place significantly longer there. However, hotels have been operating without restrictions and all shops have been open here as well since Monday, 15 June 2020. T
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04
Jun
2020

S Immo closes Q1 2020 with €31.5 million write-down

by Property Forum
In Q1 2020, S Immo’s rental income rose by around 10% in annual comparison to €31.1 million (Q1 2019: €28.4 million). The FFO I – a key figure for operating performance – advanced by 27.8% to €13.8 million (Q1 2019: €10.8 million). At the same time, the results on property valuation turned negative to reach minus €31.5 million in the wake of the COVID-19 pandemic (Q1 2019: plus €9.9 million). This corresponds to around 1.3% of the IFRS real estate assets. All in all, the company saw a loss for the period of €21.4 million as of 31 March 2020 (Q1 2019: profit for the period of €15.1m million).
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06
Dec
2019

S Immo sells Budapest office building

by Property Forum
S Immo Hungary closed a major deal by selling one of its Budapest office buildings. The transaction was conducted after a longer negotiation period. Twin Office Center was part of the company’s portfolio for 14 years, operating with 100% occupancy. Neither the name of the buyer nor the transaction price has been disclosed.
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27
Nov
2019

Immofinanz and S Immo end merger talks

by Property Forum
The Executive Boards of S Immo and Immofinanz decided to end their discussions over the possible combination of the two companies. This decision was based, in particular, on the inability to reach an agreement over a possible exchange ratio.
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28
Oct
2019

S Immo acquires office building in Zagreb

by Property Forum
S Immo has acquired the almost fully let office building HOTO Tower in the Croatian capital Zagreb from the Austrian SIGNA Group. The distinctive 60-meter-high office tower is characterised by its prominent location along the Savska Cesta in the southwest of the Central Business District.
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24
Sep
2018

Immofinanz buys 29% stake in S Immo

by Property Forum
Immofinanz AG signed agreements for the purchase of 19,499,437 bearer shares in S Immo AG, which represent an investment of roughly 29.14%, on 18 April 2018. Following the receipt of the relevant anti-trust approvals, the closing of the transaction took place on 21 September 2018 and the acquired S IMMO shares were formally transferred to Immofinanz.
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18
Apr
2018

Immofinanz buys into S Immo

by Property Forum
With the signing of share purchase agreements, Immofinanz AG has purchased 19,499,437 bearer shares (representing an investment of 29.14%) of S Immo AG from member companies of the RPR Group (approx. 14.6 million shares) and the SIGNA Group (approx. 4.9 million shares). The transaction is subject to various conditions precedent, in particular, the approval of the antitrust authorities in Austria, Germany and other jurisdictions. The Supervisory Board of Immofinanz approved the purchase today.
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05
Apr
2018

S Immo assigns new agents for Budapest building

by Property Forum
S Immo Hungary, owner of River Estates office building located at the junction of Váci road and Dózsa György road, co-exclusively assigned JLL and Robertson Hungary real estate agencies to lease 9,200 square meters of quality office space.
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22
Mar
2018

S Immo completes €30 million remodelling of Sun Plaza

by Property Forum
S Immo has completed the upgrade of the Sun Plaza shopping centre in Bucharest and reopened all reconfigured areas to the public. The €30 million remodelling has added 11,000 sqm of new retail space to the shopping centre.
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07
Feb
2018

S Immo names new manager in Hungary

by Property Forum
As of 01 March, Géza Barabás will lead the S Immo subsidiary in Budapest and hence be responsible for the Hungarian portfolio’s management.
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