EQS-News: IMMOFINANZ strengthens its leading market position in Europe with the acquisition of a retail portfolio from CPIPG

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

19.09.2022 / 17:47 CET/CEST
The issuer is solely responsible for the content of this announcement.

══════════════════════════════════════════════════════════════════════════

IMMOFINANZ strengthens its leading market position in Europe with the
acquisition of a retail portfolio from CPIPG
 

• Acquisition of a fully rented portfolio with 53 properties in four
countries and roughly 217,000 sqm of rentable space for EUR 324.2
million
• Closing for 36 properties in the Czech Republic and Poland already
completed
• IMMOFINANZ’s retail offering now covers 166 properties in ten
countries with over 1.3 million sqm of rentable space
• Expected total gross rental income of EUR 25.0 million per year
sustainably strengthens IMMOFINANZ’s earning power

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 EUR 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 EUR 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.

“This transaction represents an important strategic step to strengthen our
resilient, high-return retail portfolio. The acquisition will not only
accelerate the expansion of our leading position on the retail park market
in Europe and strengthen our STOP SHOP brand, it will also sustainably
reinforce IMMOFINANZ’s earning power with stable rental income of roughly
25 million euros per year“, explained Radka Doehring, member of the
IMMOFINANZ Executive Board. “Our retail portfolio will now grow to a total
of 166 properties in ten countries with over 1.3 million square meters of
rentable space.“

Attractive tenant mix and very good accessibility

The acquired portfolio consists primarily of retail parks with an
attractive and diverse tenant mix as well as several commercial locations
with do-it-yourself and food retailers with very stable revenues and high
returns. The properties are located in larger cities or close to large
catchment areas and can be easily reached by car and public
transportation.

“Considering the scarcity of high-quality portfolios of this size on the
market, the completion of this transaction is a very special success. It
represents the ideal opportunity to expand IMMOFINANZ’s retail portfolio
in a single step and at a lower cost compared to negotiations with
multiple sellers“, indicated Stefan Frömmel, Head of Group Transactions at
IMMOFINANZ.

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

Details on the portfolio

The acquired retail portfolio comprises the following:

• Czech Republic: 30 properties with roughly 89,300 sqm of rentable
space and an occupancy rate of 98.7%
• Slovakia: 15 properties with roughly 76,200 sqm of rentable space and
an occupancy rate of 99.9%
• Poland: 6 properties with roughly 18,200 sqm of rentable space and an
occupancy rate of 92.2%
• Hungary: 2 properties with roughly 33,600 sqm of rentable space and an
occupancy rate of 100%

 

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 the STOP SHOP (retail), VIVO! (retail)
and myhive (office) brands represent strong focal points that stand for
quality and service. With the new On Top Living brand, IMMOFINANZ is
expanding into sustainable and affordable living. The real estate
portfolio has a value of approximately EUR 5.4 billion and covers more
than 220 properties. IMMOFINANZ is listed on the stock exchanges in Vienna
(leading ATX index) and Warsaw. Further information under:
[1] https://www.immofinanz.com

 

For additional information contact:

Bettina Schragl
Head of Corporate Communications and Investor Relations
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
[2]communications@immofinanz.com
[3]investor@immofinanz.com

 

IMMOFINANZ
1100 Vienna, Wienerbergstrasse 9, Austria
www.immofinanz.com

══════════════════════════════════════════════════════════════════════════

19.09.2022 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 – 2290
Fax: +43 (0) 1 88090 – 8290
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: 1445563

 
End of News EQS News Service

1445563  19.09.2022 CET/CEST

References

Visible links
1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=80e0770945341ce94336a25dcef56fde&application_id=1445563&site_id=apa_ots_austria&application_name=news
2. communications@immofinanz.com
3. investor@immofinanz.com

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS. www.ots.at
© Copyright APA-OTS Originaltext-Service GmbH und der jeweilige Aussender