Earlier today, IMMOFINANZ AG (“IMMOFINANZ”) announced that it has entered into an agreement to acquire 25,690,167 ordinary shares that represent ca. 26% of the outstanding share capital and voting rights in CA Immobilien Anlagen Aktiengesellschaft (“CA Immo”) from O1 Group Limited and Terim Limited.
IMMOFINANZ AG has agreed to acquire 25,690,163 bearer shares (corresponding to a participation of approximately 26%) in CA Immobilien Anlagen Aktiengesellschaft (“CA Immo”) from Terim Limited (Cyprus) and 4 registered shares in CA Immo from O1 Group Limited (Cyprus). The transaction is subject to conditions precedent, in particular merger control clearance in Austria, Germany and other jurisdictions as well as approval by the supervisory board of IMMOFINANZ AG and approval of the management board of CA Immo for the transfer of the registered shares.
DVM group was entrusted with the general construction of a 380 sq m office space by Schmidt Management for one of its clients. The integrated building services provider carried out the construction works according to high technical standards.
Skanska continues its winning streak at the most important events of the commercial real estate market. During this year’s CEEQA Awards ceremony, Skanska Commercial Development Europe won the highest number of awards among all developers – the company was recognized with four awards in key categories.
According to CBRE Investment Breakfast Intentions Survey the vast majority of investors expect more than EUR 1 billion of investments in the Hungarian commercial real estate markets in 2016. Participants at CBRE Investment Breakfast hold on 5th Aprils 2016 were much more confident that in 2016 the Hungarian investment volume will increase further than they were last year.
With its nearly EUR 6 billion real estate portfolio – which covers more than 380 properties – in eight core markets in Europe, IMMOFINANZ is a significant player on the market. The Group’s properties in Hungary represent nearly 8% of the company’s total portfolio, including 12 office buildings and 13 retail properties. The company’s Hungarian subsidiary is contributing to the overall success strongly. Viktor Nagy, Country Manager Asset Management Office, IMMOFINANZ Hungary, has been asked to answer a few questions about the company’s successes and plans.
S IMMO Hungary’s office buildings have seen continuous upgrading and increasing occupancy. Most of the technical and visual renovation works finished by the end of last year. This year has already brought a number of major lease agreements. S IMMO Hungary, which has been operating on the Hungarian property market for 15 years now, put great emphasis on modernizing its properties in the last 3 years.
In 2015, office buildings located in Central and Eastern Europe attracted a great deal of interest from investors. Projects situated in prime locations such as Warsaw, Prague, Budapest, Bucharest, and Polish regional cities have often found buyers even before construction has been completed. However, the requirements of investment funds are increasingly demanding with developers needing to create products with added value. To successfully create added value, Skanska not only builds offices but nurtures good relationships with their clients as well.
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