Austria

The first half of 2022 is over, and Christie & Co takes this opportunity to review the transaction activity in the Austrian hotel real estate sector. The focus remained clearly on leisure hotels, but some city hotels also changed hands, resulting in a transaction volume of over €230 million in the first six months.

Catella Modernes Wohnen (CMW), the German open-ended real estate fund, has acquired 121 affordable residential units in a new development in the western Ottakring district of Vienna for around EUR 39 million. Berlin-based Catella Residential Investment Management GmbH (CRIM) managed the acquisition on behalf of the CMW fund w...

Cycas Hospitality will partner with InterGlobe in the management and transformation of 11 boutique hotels and 1,472 rooms across eight countries and nine cities.

Günther Artner (49) has taken over the management of the Commercial Real Estate business of Erste Group and Erste Bank Oesterreich as of 1 July 2022. Artner thus succeeds Patrick Zehetmayr, who is leaving Erste Group.

Boutique hotel brand Hotel Indigo, part of IHG Hotels & Resorts’ Luxury and Lifestyle portfolio, has opened its first property in Austria, Hotel Indigo Vienna – Naschmarkt. Centrally located, the hotel is a short walk from the city’s historic centre, the ‘Margareten’ district, a culturally diverse neighbourhood, including eve...

Following the majority takeover by CPI, Immofinanz's management plans to focus even more on retail properties and myhive office solutions in the future, selling properties worth around one billion euros and reinvesting the proceeds in higher-yielding assets.

Today, on 27 June 2022, S IMMO AG was informed that the Commercial Court today ordered the amendment of the Articles of Association to remove the maximum voting rights to be entered in the Commercial Register. The amendment to the Articles of Association will thus be visible and effective in the electronic commercial register...

CA Immo has successfully signed and closed the sale of the “Donau Business Center” office building, which comprises approx. 23,000 m² of gross leasable area (GLA). The transaction has closed at a premium to the book value as at 31 December 2021.

Major shareholder CPI Property Group (77%) refuses to pay a dividend for the financial year 2021. This was announced by Immofinanz yesterday. The new primary shareholder proposes that the balance sheet profit stated in the financial statement of Immofinanz for the business year 2021 is carried forward in full onto new account.

Directly at Vienna's main train station, Austria's first Prizeotel celebrated its opening this week. With 293 rooms, Prizeotel Wien-City is the hotel chain's second largest property after the flagship hotel in Hamburg.

GalCap Europe has invested on behalf of an individual mandate for a German pension fund at the Center of Technology in Graz. The research and development building Space One was acquired by a consortium of private investors. Friedl Land GmbH advised on the deal.

Just some weeks after the takeover by CPI Property Group, the two board members Dietmar Reindl and Stefan Schönauer are leaving the company. As Immofinanz announced yesterday, the parties have reached a „mutual agreement“ that the contracts will be terminated as of 08 June and the two managers will remain available in an advi...

The hotel operating company Primestar Group is growing internationally and will open its first hotel in Austria with the Hampton by Hilton Vienna City West in 2024. By signing the franchise agreement between Primestar Hospitality GmbH and Hilton, the successful cooperation between the companies is continued. Primestar Group a...

The International Congress and Convention Association (ICCA) released its „2021 ICCA Ranking - Destination Performance Index (DPI)“ report this week. Meeting Destination Vienna achieved 1st place worldwide in the overall 2021 ranking, ahead of Lisbon and Athens.

Greystar is opening the „District Living“ residential tower on Vienna's Donauplatte with 832 fully furnished apartments on around 20,000 m². With its 15 to 47 m² fully furnished apartments, the DC3 residential tower is aimed primarily at students and young professionals.

Today, the 33rd Annual General Meeting voted with a majority of 98.44% of the capital present in favour of the abolition of the maximum voting rights. The Management Board will file the amendment of the Articles of Association for entry in the commercial register pursuant to Section 148 (1) of the Austrian Stock Corporation A...

Immofinanz successfully completed a solid start into the 2022 financial year: Like-for-like rental income rose by 4.3% in the first quarter, the occupancy rate remained high at 94.4%, and FFO 1 before tax was stable at a very good level of € 34.4 million. Net profit totalled € 72.4 million, compared with a substantial positiv...

The strong sales result combined with lower indirect costs led to an increase in operating profit of around 6%. In addition, a significant increase in revaluation result helped to more than triple consolidated net income compared with the previous year.