As part of its value-creating growth strategy with a focus on high-return properties, Immofinanz is acquiring 53 retail properties in the Czech Republic, Poland, Slovakia and Hungary from its majority shareholder CPI Property Group (CPIPG). The acquired portfolio has roughly 217,000 sqm of rentable space and is fully let with an occupancy rate of 99%. The purchase price totals €324.2 million. The purchase contract was signed today, together with the closing for 36 retail properties in the Czech Republic and Poland which have 108,000 sqm of rentable space. The purchase price of €191 million for those properties was financed from existing funds. The closing for the remaining 17 properties in Hungary and Slovakia is expected to take place by the end of this year.
JRD Development, a member of the JRD Group, has completed the rough construction of the Bohdalec Quartet energy-saving project. The residential area includes 183 apartments with a healthy indoor environment, 5 commercial spaces and a ground floor with a playground and designer furniture. Commissioning of the project, on which the developer is cooperating with the RSJ investment group, is planned for the beginning of 2023.
A future consortium of predominantly domestic studios will determine the future shape of the area around the transport hub at Florence and Masaryk Railway Station. The winners of the urban design competition announced by investors Penta Real Estate and ČSAD Praha holding in cooperation with the capital are UNIT architects and studio A69 together with a London company with Slovak roots Marko and Placemakers. It specializes in urban regeneration and sustainable planning.
CPI PROPERTY GROUP (hereinafter “CPIPG”, the “Company” or together with its subsidiaries the “Group”), a leading owner of income-generating European real estate, hereby publishes unaudited financial results for the six-month period ended 30 June 2021.
The largest provider of flexible offices on the Prague market, Scott.Weber Workspace, entrepreneur Adam Zvada, is preparing a new coworking center in the capital. He will open in the student part of Dejvice and Scott.Weber will thus strengthen his position as a branch leader in the Czech capital.
The pandemic has changed the way we work and the way we spend our working hours. According to many companies and employees, the future of work is a hybrid model - part of the week we will work from home and part in offices. According to an Accenture study conducted in 11 countries around the world this year, 83 percent of respondents consider this way of working to be optimal. Maybe they should control their optimism. This model of operation is definitely not suitable for every company or employee and carries with it a number of risks.
• The new tenant is the law firm, Allen & Overy
• The Mississippi house and Missouri Park are scheduled for completion in July
• Both buildings meet not only the standards for WELL Core & Shell and LEED Platinum certifications but also WELL
International real estate operator IMMOFINANZ, known for its STOP SHOP shopping parks, VIVO! and office real estate myhive, has committed to compensating all energy consumption in the Czech Republic exclusively with renewable sources since 2021. An environmental certificate issued by the energy supplier, Pražská energetika (PRE), recently confirmed IMMOFINANZ's responsible behavior and consideration for the environment in which its focus on sustainable development and its commitment to a green future.
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