ARTICLES LABELLED WITH TAG CPIPG

Immofinanz has announced the sale of the Twin Towers on Wienerbergstrasse in Vienna to S Immo.

CPI Property Group announced the signing of nearly €500 million of new secured bank loans in 3 CEE countries. CPIPG currently has new bank loans in Poland, the Czech Republic as well as Slovakia.

CPI Property Group has announced the acquisition of a 25% stake in CleverPower. The company focuses on corporate energy self-sufficiency and electromobility and also operates the Chargee charging platform. By 2030, they will build up to three thousand new charging points not only in the Czech Republic, CPI Property Group announced today.

The Supervisory Board of Immofinanz has appointed Pavel Měchura to the Executive Board, effective immediately. The Immofinanz Executive Board will now include two members: Radka Doehring and Pavel Měchura. Also effective 16 June, Radka Doehring has become a member of the Executive Board of S Immo.

Given CPI Property Group’s recent acquisition of Immofinanz and S Immo, the company is more focused on implementing its integration strategy, rather than necessarily looking at new acquisitions, says Mindee Lee, Board Secretary and Senior Manager of Corporate Strategy at CPIPG, in an exclusive interview with Property Forum.

Immofinanz Group recorded strong growth in both rental income and operating results for the first quarter of 2023, which was supported primarily by the full consolidation of S Immo and by property acquisitions. Rental income rose by roughly 83% to €128.4 million. The results of operations and sustainable FFO 1 from the standing investment business more than doubled to €82.5 million and €72.5 million, respectively.

CPI Property Group (CPIPG) has announced updated information regarding the Group´s efforts in reducing and preserving cash, with a focus on disposals.

As a result of a legal dispute between real estate tycoon Radovan Vítek's CPI Property Group and businessmen Marek Čmejla and Jiří Diviš, a Cypriot court has reportedly ordered banks to freeze CPI Property Group's assets worth almost CZK 13 billion (€553 million), according to the German economic newspaper Handelsblatt, cited by the Czech daily Hn.cz. CPIPG, however, denies the German newspaper's information, saying that the interim measure is not in force and that no accounts have been seized or assets were frozen.

Property groups Immofinanz and S Immo said they are reviewing further alignment, coordination, merger or other forms of integration, with CPI Property Group (CPIPG) as supporting shareholder. 

Immofinanz has significantly expanded its retail portfolio in the 2022 financial year. As a result of acquisitions and completions, the portfolio has grown from 111 to 169 locations in ten European countries over the course of the year, with a carrying amount of approximately €2.3 billion (excluding S Immo). Rentable space increased by nearly 30% to approximately 1.36 million sqm.