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IMMOFINANZ leases 16,000 sqm of its Bucharest office portfolio

Date: 12/13/2016

IMMOFINANZ, one of the leading real estate investors in Romania, has signed since June 2016 numerous new partnerships and extensions of agreements with tenants in the local office sector, accounting for a total of over 16,000 sqm. The company has attracted new tenants and expansions for 11,500 sqm and has prolonged existing contracts for another 4,500 sqm in seven of its class A office properties in Bucharest.

“2016 has been a period of consolidation for our Romanian operations, both in the office and in the retail sector. As we continue to invest in our existing properties, we are delighted to welcome new tenants, many of them top players in their sectors”, said Sorin Visoianu, Country Manager Operations Romania at IMMOFINANZ. “The last five months also brought significant extensions of lease agreements with our existing partners, another success which confirms the efficiency of our tenant-oriented approach.”

Among the new IMMOFINANZ tenants are media group Ringier, which will operate on almost 2,500 sqm in Iride Business Park, TV production company Sinevizyon, which leased over 2,000 sqm in Pipera Warehouse, and one of the main players on the auto market in Romania, which has signed an agreement for about 1,500 sqm in North Center. The other new IMMOFINANZ tenants include important companies such as Tymbark, ND Medhealth and Sterling Cruise, while Q’s Inn, which already operates a unit in North Center, has leased an additional space in Iride Business Park.

Numerous lease contracts were also prolonged and extended. Long term tenant ING expanded its leased surface in S-Park by over 1,800 sqm, while one of IMMOFINANZ’s partners of over nine years from the pharma sector has prolonged their lease agreement for 1,500 sqm in Iride Business Park. Furthermore, Bucharest Corporate Center has become fully occupied following a 800 sqm premises extension of its existing tenant.

On IMMOFINANZ
IMMOFINANZ is a commercial real estate group whose activities are focused on the retail and office segments of eight core markets in Europe: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Moscow. The management and development of properties form the group’s core business. The STOP SHOP (retail), VIVO! (retail) and myhive (office) brands create strong focal points for these activities and stand for quality and service. The real estate portfolio has a value of approx. EUR 5.4 billion and covers more than 360 properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: www.immofinanz.com

For additional information please contact:
Bettina Schragl
Head of Corporate Communications and Investor Relations
IMMOFINANZ
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com
investor@immofinanz.com

Romania Press Office:
Anca Meliu
Action Global Communications
M +40 727 323 892
anca.m@actionprgroup.com

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