Stock-listed real estate group Immofinanz, currently majority-owned by Czech billionaire Radovan Vitek’s CPI Property, wants to grow “value creation” in the retail and office sector and restructure its portfolio: the company wants to sell properties of around €1 billion and invest the proceeds in assets with High yields or debt repayment, reported on Friday’s broadcast.
The planned acquisitions will include CPI Property Group properties that fit this strategy. According to its own data, Immofinanz has real estate assets of about 5.2 billion euros, distributed over more than 220 properties.
The company focuses its activities on the office and retail sectors in the eight core European markets of Austria, Germany, Poland, the Czech Republic, Slovakia, Hungary, Romania and the Adriatic. In the management and development of real estate, the group works with the brands “Stop Shop” (retail), “Vivo!” (retail) and “myhive” (office). With the new “On Top Living” brand, Immofinanz wants to expand into the field of sustainable and affordable living. The real estate developer is listed on the Vienna and Warsaw stock exchanges.
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