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Articles - ingatlanpiac

ConvergenCE Buys Buda Office Building

9/2/19

The Budapest based commercial real estate investor and developer, ConvergenCE has announced the acquisition of the Central Business Center office investment in the 2nd district of Budapest. ConvergenCE acquired the building in Horvát Street from Immonfinanz.

IMMOFINANZ: Net profit more than doubles to EUR 185.3 million in the first half of 2019

8/29/19

The strong earnings development recorded by IMMOFINANZ in the previous year continued during the first half of 2019. Rental income rose by 10.8% (including the effects from the initial application of IFRS 16) to EUR 131.8 million.

IMMOFINANZ expands STOP SHOP portfolio to 90 locations

8/28/19

IMMOFINANZ is driving the steady growth of its successful STOP SHOP retail park brand, as previously announced, with a next step that includes the expansion of the portfolio to 90 locations.

ATENOR starts its second office development project located in Buda

7/19/19

ATENOR has signed an agreement, relating to the acquisition of a plot in the 11th district of Budapest, Hengermalom út 18., with an area of 5,711 m².

IMMOFINANZ closes the acquisition of the Warsaw Spire Tower from Ghelamco and Madison International Realty

7/12/19

IMMOFINANZ has successfully finalised the acquisition of the Warsaw Spire Tower through the purchase of the respective real estate holding companies. The closing took place today, 11 July, following the release of the transaction by the Polish antitrust authorities. The sellers are the Ghelamco Group, which completed the tower in 2016, and Madison International Realty, a global real estate private equity firm. The agreed property value for the office tower equals roughly EUR 386.0 million. The expected annual rental income based on invoiced rents totals approximately EUR 19.6 million.

IMMOFINANZ acquires Warsaw Spire Tower

6/14/19

IMMOFINANZ is acquiring the Warsaw Spire Tower Building in the Polish capital through the purchase of the respective property holding companies.

IMMOFINANZ continues sound prior year development in first quarter of 2019

5/29/19

Rental income improved by 10.5% (including the effects from the initial application of IFRS 16), respectively by 4.1% (excluding IFRS 16 effects) to EUR 65.2 million. Results of operations rose by 3.7% to EUR 36.8 million and sustainable FFO 1 (before tax) from the standing investment business climbed 35.0% to EUR 28.1 million. Net profit also increased significantly year-on-year to EUR 30.4 million in the reporting period (Q1 2018: EUR 1.0 million).

S IMMO is in the fast lane

5/23/19

S IMMO started 2019 with large-scale transactions in the Budapest property market. Through purchasing a nearly 9,000 sqm plot, the company is preparing the development of a new office complex, while its existing buildings are still close to full occupancy.

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