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Articles - ingatlanpiac

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.

WING now owns Liget Center Office Building

5/7/19

Hungary’s property market leader, WING, has purchased the Liget Center Office Building located next the City Park (Városliget) in Budapest. The property consists of a 7,000 sqm office building and a nearly 3,800 sqm auditorium. WING intends to upgrade the building’s services, implementing value-added features and finding a new function for its auditorium, which is currently vacant.