IMMOFINANZ is committed to responsible management in accordance with the principles of integrity, honesty and transparency. Mutual trust as the underlying conviction forms the basis for constructive cooperation throughout the company and with business partners.
IMMOFINANZ Group recorded strong growth in both rental income and operating results for the first quarter of 2023, which was supported primarily by the full consolidation of S IMMO and by property acquisitions. Rental income rose by roughly 83% to EUR 128.4 million. The results of operations and sustainable FFO 1 from the standing investment business more than doubled to EUR 82.5 million and EUR 72.5 million, respectively.
"Our acquisitions for the retail business combined with the increase in our S IMMO investment and the resulting full consolidation have significantly strengthened our market position. The IMMOFINANZ property portfolio now covers roughly eight billion euros in ten European countries, and our operating results have more than doubled. We are also making excellent progress with our portfolio optimisation. In the first quarter of this year, our group successfully closed strategic property sales with a volume of roughly 470 million euros", commented Radka Doehring, Executive Chairwoman of IMMOFINANZ.
Our international myhive brand places top priority on innovative office concepts with a wide range of services, excellent infrastructure and an active community. Our offices meet the expectations on a modern working environment.
Founded in the year 1990, IMMOFINANZ AG has now stood for over 30 years for the development and management of properties. The core business comprises the rental of office and retail properties in Western and Eastern Europe. The most important key markets include Austria, Germany, Poland, the Czech Republic, Slovakia, Hungary, Romania and the Adriatic region.
The retail portfolio of IMMOFINANZ comprises two own brands: The brand STOP SHOP was founded in the year 2005 and comprises retail parks, so-called speciality retail markets, in Eastern and Central Europe. The catchment area of the STOP SHOP speciality retail markets is from 30,000 to 150,000 inhabitants, offering a comprehensive choice of retail shops with everyday products at good value for money.
VIVO!, on the other hand, places its focus on a shopping experience with a leisure character. The shopping centres are conceived for towns with a catchment area of at least 200,000 inhabitants and since the year 2014 have been offering their visitors a wide choice of shops and an attractive mix of sectors – including both internationally renowned labels and smaller, local suppliers. Of course, cuisine is also given its due, thanks to the modern gastronomy areas.
IMMOFINANZ has already been involved in the area of the development and rental of office properties since 1990 and in 2016 developed the international office brand myhive. The modern concept comprises office buildings, including in the most important European metropolises in the countries Austria, Germany, Poland, Romania, the Slovak Republic, the Czech Republic and Croatia.
Those who would like to rent a full-service office are making the most convenient choice with the myhive offices: A modern, sleek environment with high-quality equipment and a range of services. At myhive, visitors and lessees will find a friendly, hotel-inspired lobby, high-speed Internet access, as well as restaurants and cafés, ensuring first-class comfort before, during and after work. Additional sports and leisure facilities also guarantee a good work-life balance.
Those who would like to rent an office in Austria or another European metropolis can discover the most flexible workspace solutions for all requirements with the myhive office properties of IMMOFINANZ. No matter whether it is a single workspace in an office community, an independent office unit or an individual area with its own access – myhive offers an office solution for every requirement!