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

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.

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   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:
   [1]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

   [2][email protected]

   [3][email protected]

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

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

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   Language:    English
   Company:     IMMOFINANZ AG
                Wienerbergstraße 9
                1100 Vienna
                Austria
   Phone:       +43 (0) 1 88090 - 2291
   Fax:         +43 1 88090 - 8291
   E-mail:      [email protected]
   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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