JLL managing myhive Park Postępu complex in Warsaw

Immofinanz has appointed JLL as the property manager of its myhive Park Postępu office complex in Warsaw. The complex is located on ul. Postępu in the Służewiec business area of the Mokotów district of the Polish capital. It was developed by Echo Investment and consists of four seven-story buildings...

Planned Immofinanz-CA Immo merger postponed

Vienna and Warsaw Stock Exchange-listed developer and investor Immofinanz has revealed changes in the previously announced preliminary timetable for its planned merger with Vienna Stock Exchange-listed real estate company CA Immo. A vote on the merger, which was earlier expected to take place in the...

Locked content Immofinanz granted PLN 150 mln loan by German bank

German bank Deutsche Pfandbriefbank provided real estate developer Immofinanz with a €34 million (PLN 147 million) loan, the company informed in a market filing. These funds will be directed to refinance the Nimbus office scheme, completed in 2014. Nimbus Office offers over 19,000 sqm of class-A off...

Locked content Immofinanz to build new commercial center in Gdynia

Austrian investor and real estate developer Immofinanz will build a new commercial center, Stop Shop which will be located on ul. Chylońska in Gdynia. The mall will have 3,400 sqm and its construction will start at the beginning of 2017 at the latest. The process of commercialization is currently un...

Locked content Immofinanz’s profit up to €126,2 mln

Immofinanz made a net profit of  €126,2 million in the first quarter of the financial year 2015/2016 in comparison to a €6 million loss the year before. Income from rent increased from €91,4 million to  €117,6 million in 2014/2015, whereas income from management equalled  €59,6 million and  €95,4 mi...

Locked content Immofinanz finalizes Empark takeover

As the anti-monopoly watchdog UOKiK approved the transaction, real estate developer Immofinanz completed a purchase of the remaining stake in Empark Mokotów Business Park, thus becoming the only owner of the Warsaw-based complex, the media reported. The value of the deal is unknown. The stake belong...

Locked content Immofinanz to focus on Poland, Germany and France

Real estate company Immofinanz plans to concentrate its portfolio on retail and office sectors. Austria, Germany and Poland will represent the geographic focal points for these efforts, the company informed. “Growth will be directed towards improving sustainable profitability and creating a more bal...

Locked content Immofinanz expects €361,4 mln net losses

Investment and property developer Immofinanz expects a €361,4 millon net loss in the financial year 2014/2015, whereas last year it had net losses of €72 million.  This large increase is said to be due to the current economic situation in Russia which is shown by the pricing of Russian shopping cent...