ARTICLES LABELLED WITH TAG Immofinanz

In the first three quarters of 2022, Immofinanz’s rental income reached a high €216.9 million, the results of asset management improved by 3.2% to €168.4 million, and sustainable FFO 1 from the standing investment business (including the S Immo dividend) rose by more than 15% to €115.9 million. Net profit equalled €248.6 million.

Immofinanz has received approval from its Supervisory Board to enter into negotiations with its core shareholder CPI Property Group concerning the acquisition of shares in S Immo. Currently, Immofinanz directly holds approx. 26.49% of S Immo. CPIPG directly holds 52.7% of S Immo, which may further increase as a result of CPIPG’s mandatory takeover offer over S Immo.

Property group Immofinanz, controlled by CPI Property Group (CPIPG), is reportedly negotiating the sale of its Băneasa Airport Tower office building in northern Bucharest.

Immofinanz has successfully completed the sale of additional office properties. Two office buildings in Vienna were sold to the Austrian Winegg Group for an attractive market price of approximately €60 million. These two properties have 7,000 sqm of space in total and are occupied by long-term tenants.

Immofinanz has signed a letter of intent for the sale of its Hungarian office properties to S Immo. This transaction is taking place through close cooperation within the CPI Property Group to realise synergy effects and can be used to extend Immofinanz’s myhive office solutions to the entire group. The Hungarian portfolio includes six buildings in Budapest with roughly 124,000 sqm of rentable space. The closing of the transaction could take place before the end of 2022.

Immofinanz has opened its eleventh Stop Shop strip mall in Poland. It is located in Zielona Góra, close to the German border.

Magdalena Kowalewska joined CPI Property Group (CPIPG) Polska, taking the position of Chief Operations Officer.

As part of its value-creating growth strategy with a focus on high-return properties, Immofinanz is acquiring 53 retail properties in the Czech Republic, Poland, Slovakia and Hungary from its majority shareholder CPI Property Group (CPIPG). The acquired portfolio has roughly 217,000 sqm of rentable space and is fully let with an occupancy rate of 99%. The purchase price totals €324.2 million. The purchase contract was signed today, together with the closing for 36 retail properties in the Czech Republic and Poland which have 108,000 sqm of rentable space. The purchase price of €191 million for those properties was financed from existing funds. The closing for the remaining 17 properties in Hungary and Slovakia is expected to take place by the end of this year.

Immofinanz has successfully closed the sale of the BBC Gamma office building in Prague to Passerinvest Group. The transaction was concluded at a premium to the book value as of 30 June 2022, the seller announced.

CPI Property Group's real estate portfolio increased to €20.9 billion in the first half of 2022. It was the result of two large acquisitions of Immofinanz and S Immo and therefore also the net rental income reached the level of €263 million and net business income went up to €276 million, CPIPG reported in the latest press release on half-year financial results for 2022.