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IMMOFINANZ AG (FRA:IMO) EQS-News: IMMOFINANZ again strengthens its leading market position in Europe with the acquisition of retail portfolios from CPIPG

Directive transparence : information réglementée

21/12/2023 13:03

EQS-News: IMMOFINANZ AG / Key word(s): Real Estate/Acquisition
IMMOFINANZ again strengthens its leading market position in Europe with the acquisition of retail portfolios from CPIPG

21.12.2023 / 13:03 CET/CEST
The issuer is solely responsible for the content of this announcement.


IMMOFINANZ again strengthens its leading market position in Europe with the acquisition of retail portfolios from CPIPG

 

After an acquisition of complementary retail assets this year, IMMOFINANZ is again expanding its retail portfolio in the Czech Republic with the acquisition of two properties from CPI Property Group S.A. (CPIPG). This transaction is designed to strengthen IMMOFINANZ’s earning power and position on the attractive Czech retail market.

The Czech retail market offers attractive growth opportunities, also in the current environment. International retail chains are continuing their expansion course, and we can benefit even better from this situation in the future. The transaction reflects our strategy to strengthen our resilient and high-yield retail portfolio, further expand our leading market position in the region, and improve our earning power with stable rental income of roughly 12 million euros per year“, explained Radka Doehring, member of the IMMOFINANZ Executive Board.

The Olympia Pilsen Shopping Center and a retail park are the two properties involved in the acquisition. They have a combined value of EUR 165.5 million and generate annual gross rental income of approximately EUR 12 million. The usable space in both fully rented properties totals roughly 49,200 sqm.

The Olympia Pilsen Shopping Center is located on the southeast border of Pilsen and is the largest shopping and entertainment center in Western Bohemia. It has more than 120 shops on 41,000 sqm of space, including the Albert-Hypermarkt, a CineStar movie theatre and nearly 1,400 parking spaces. The center, which opened in 2004 and was redesigned in 2008, is one of the most popular shopping centers in the Czech Republic. That makes the Olympia Pilsen Shopping Center an attractive target for fashion brands like Hennes & Mauritz, New Yorker, C&A, M&S, Humanic, Tommy Hilfiger, Tiger, Iwant, Superdry, Replay, Orsay, Gant, s.Oliver, Steilmann and many more.

As the CPI Property Group holds roughly 77% of IMMOFINANZ shares, this acquisition legally represents a “transaction with related parties“. These types of transactions are subject to high transparency and compliance requirements. IMMOFINANZ is committed to compliance with the highest corporate governance standards.

On IMMOFINANZ

IMMOFINANZ is a commercial real estate group whose activities are focused on the office and retail segments of eight core markets in Europe: Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and the Adriatic region. The core business covers the management and development of properties, whereby IMMOFINANZ relies on its established real estate brands – STOP SHOP (retail), VIVO! (retail) and myhive (office) – and also on complementary products and portfolios that include S IMMO. IMMOFINANZ increased its investment in S IMMO to 50% plus one share at the end of 2022 and now consolidates this company in full. IMMOFINANZ Group holds roughly 500 properties with a combined value of approximately EUR 7.8 billion. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: https://www.immofinanz.com

 

For additional information contact:

Simone Korbelius

Investor Relations and Corporate Communications

T +43 (0)1 88 090 2291

M +43 (0)699 1685 7291

communications@immofinanz.com

investor@immofinanz.com

IMMOFINANZ

1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com


21.12.2023 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com


Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 9
1100 Vienna
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 1 88090 - 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000A21KS2
WKN: A2JN9W
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Munich, Stuttgart; Warschau, Vienna Stock Exchange (Official Market)
EQS News ID: 1802391

 
End of News EQS News Service

1802391  21.12.2023 CET/CEST

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