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IMMOFINANZ consolidates tenant partnerships

IMMOFINANZ, the leading office building owner in Bucharest, builds on the dynamic start to the year, where the company announced new lease agreements in Iride Business Park. New lease agreements for more than 3,600 sqm and prolongations of more than 7,000 sqm were signed for several of its A class premises, leading to an overall consolidation of the office business.

With tenants such as Q’s Inn Take Away and the Austrian PostMaster (operator of private postal services), new lease agreements for North Center total more than 1,300 sqm, while contract duration spans between 5-10 years. Additionally, long term tenant CBN International Europe (global software development company) has prolonged the current lease agreement.

At the same time, Victoria Park welcomes Grupul Media Camina (broadcasting company, owner of Radio Zu and Radio Romantic) with approx. 950 sqm, and sees a consolidation of premises for the tenant Syngenta Agro (a Swiss company active in the field of plant protection and seeds), which expanded its leased area to a total of 1,300 sqm and extended its contract duration.

Other long-term partners of IMMOFINANZ, such as HEINEKEN and Servier Pharma, have prolonged lease agreements or, in the case of Sensiblu and Mondo di Pasta, leased new retail spaces in S-Park. New tenants are also moving into the premises: Stratum Energy (active in the oil & gas industry) and Max Relax (corporate wellness provider).
“We are taking definite steps for continuous growth of our occupancy rate; we are privileged to work with such partners and we are actively pursuing our philosophy of providing more than office spaces, namely value-added services that increase the quality of our partnerships and sustain the business of our clients”, says Sorin Visoianu, IMMOFINANZ Country Manager Office & Logistics for Romania and Bulgaria.

IMMOFINANZ is the leading office building owner in Bucharest, with 8 office properties with a total of 187,405 sqm rentable space and a carrying amount of roughly EUR 348.5 million as of 31st January 2015. Through active asset management, the IMMOFINANZ Group team ensures that all properties are continuously improved and brought up to the latest technical standard, to offer very high quality spaces to their tenants.

In Romania IMMOFINANZ is one of the leading real-estate developers and investors with a portfolio of 87 properties, mostly in the office and commercial sectors, with a carrying value estimated at EUR 949.2 million as of 30 April 2015. Romania ranks 3rd in the total Group portfolio holding a 14.2% share after Russia with 23.4% and Austria with 20.1%.