IMMOFINANZ: Strong growth to approximately 170 locations with high-yield retail portfolio

The most recent growth steps in the fourth quarter of 2022 included the completion of three STOP SHOP retail parks in the Croatian cities of Gospic and Velika Gorica as well as in Zielona Gora, Poland, and the now fully completed acquisition of a retail portfolio comprising 53 fully rented properties from the majority shareholder CPI Property Group (CPIPG). The closing for 38 properties in Poland, the Czech Republic and Hungary already took place in September and October. The acquisition of 15 retail properties in Slovakia was completed today. The acquisition of these 53 properties with approximately 217,000 sq m of rentable space is expected to result in additional annual rental income of roughly 25 million Euro.

“With the closing of this transaction, we are taking an important step in line with our strategy to strengthen our resilient and high-yield retail portfolio and to expand our leading market position for retail parks in Europe,” says Radka Doehring, Executive Chairwoman of IMMOFINANZ.

Sale of Hungarian office properties to S IMMO 

IMMOFINANZ has also completed the sale of its Hungarian office properties to the S IMMO Group, in which it holds a controlling interest, before the end of the year. These properties consist of six buildings in Budapest with approximately 124,000 sq m of rentable space. The transaction volume amounted to approximately 244 million Euro. Since IMMOFINANZ has acquired a controlling interest of 50% plus 1 share in S IMMO, this transaction has no impact on the Group’s asset, financial and earnings position.