Immofinanz makes almost EUR 12 mln from rents in Romania

Immofinanz, one of the most important players on the Romanian real estate market, registered rental income of EUR 11.9 million in Romania in the first quarter of 2018, which represents 20.2% of the group’s total revenues from rents. Immofinanz’ properties in Romania represent 19.3% of the group’s total portfolio, including 64 properties with a value of EUR 809.3 million. The completed investment portfolio worth EUR 622.3 million is represented by 9 office buildings (14.6% of the entire portfolio of offices) and 6 retail properties (23.1% of the entire retail portfolio), the company said. In the first quarter of the financial year 2018, the occupancy rate of the portfolio in Romania increased to 95.5%, from 94.6% at the end of December 2017. Romania properties include Iride Business Park, Metroffice, S-Park, Victoria Park, Băneasa Airport Tower, as well as four Vivo! Retail centres in Cluj-Napoca, Piteşti, Constanţa and Baia Mare. Irina Marica, irina.marica@romania-insider.com