ARTICLES LABELLED WITH TAG S Immo

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.

The owner and asset management company placed 437 solar panels on top of the Blue Cube office building to decrease CO2 emissions by 120 thousand kilogrammes a year.

Following the completion of the mandatory offer by CPI Property Group in relation to S Immo, the Supervisory Board and the acting Chairman of the Management Board, Dr. Bruno Ettenauer, have mutually agreed that Mr. Ettenauer's Management Board contract terminated at the end of 6 September 2022.

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.

CPI Property Group (CPIPG) has become the owner of approximately 79.2% of the shares of the Austrian company S Immo. CPIPG, in its mandatory takeover offer, offered to buy out the shares of S Immo for €23.50 per share. This offer, available until August 12, 2022, was taken up by holders of approximately 36.66% of S Immo shares.

S Immo Hungary’s Blue Cube office building has been awarded a Very Good green rating in the BREEAM In-Use category and an Excellent rating in the Building Management category.

Investment transactions worth €336 million were concluded on Romania’s property market in the first semester of 2022, up 13% year-on-year, while for the whole year the sector could generate deals closer to or even higher than €1 billion, according to a report by real estate consultancy Colliers. 

CPI Property Group reported first-quarter profit growth of 243 percent year-on-year to €381 million (roughly CZK 9.4 billion). It was able to do so thanks to its takeover of Austria's Immofinanz, which owns a number of commercial properties. CPI now owns 76.86 percent of the shares in this Austrian company. As a result, CPI is currently the Central European leader in real estate and is planning further expansion with the Austrian real estate company S Immo, where it now controls 42.6 per cent along with Immofinanz.

Campus 6.2, the office building based in western Bucharest that is part of Skanska’s Campus 6 complex, has achieved the WELL Core & Shell certification at a Gold level.

S Immo has received a request from shareholder CPI Property Group to convene an extraordinary shareholders' meeting. The motion is to resolve the abolishment of the 15 % voting cap set in the Articles of Association of S Immo. In addition, CPI Property Group has announced its intention to make a mandatory offer for all shares in S Immo not held by CPI. At the moment, CPIPG, directly and indirectly, owns a total of 42.6% in S Immo.