Austrian real estate company CA Immo contemplates exit from Romanian market

Austrian real estate company with a focus on office segment CA Immo announced that it is evaluating all strategic options for the Romanian market, including a potential sale of the entire portfolio.

The cash flow from operations will fall below target because of the adverse conditions on the rental market, the company explains, speaking of its entire portfolio located in Germany, Austria as well as Central and Eastern Europe.

“The final impact of the pandemic and its economic consequences cannot be conclusively assessed in the recent light of negative developments, but are continuously monitored by CA Immo,” a corporate report, quoted by Economica.net, reads.

Earlier this year, CA Immo made its exit from the Slovak market, where it sold an office project with a leasable area of 25,000 square meters.

CA Immo is the fourth-largest office owner in Romania, after Globalworth, AFI Europe and Immofinanz. The leasable area of the office buildings in its portfolio, valued at EUR 390 mln (8% of CA Immo’s total portfolio), sum up to 165,000 square meters.

The Romanian portfolio includes office buildings Bucharest Business Park (26,700 sqm), Campus 6.1 (22,700 sqm), Europe House (16,400 sqm), Opera Center I ( 11,900 sqm), Opera Center II (3,500 sqm), Orchid Towers (36,300 sqm) and Riverplace (47,000 sqm).

(Photo: Nuthawut Somsuk/ Dreamstime)

andrei@romania-insider.com

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Austrian real estate company CA Immo contemplates exit from Romanian market

Austrian real estate company with a focus on office segment CA Immo announced that it is evaluating all strategic options for the Romanian market, including a potential sale of the entire portfolio.

The cash flow from operations will fall below target because of the adverse conditions on the rental market, the company explains, speaking of its entire portfolio located in Germany, Austria as well as Central and Eastern Europe.

“The final impact of the pandemic and its economic consequences cannot be conclusively assessed in the recent light of negative developments, but are continuously monitored by CA Immo,” a corporate report, quoted by Economica.net, reads.

Earlier this year, CA Immo made its exit from the Slovak market, where it sold an office project with a leasable area of 25,000 square meters.

CA Immo is the fourth-largest office owner in Romania, after Globalworth, AFI Europe and Immofinanz. The leasable area of the office buildings in its portfolio, valued at EUR 390 mln (8% of CA Immo’s total portfolio), sum up to 165,000 square meters.

The Romanian portfolio includes office buildings Bucharest Business Park (26,700 sqm), Campus 6.1 (22,700 sqm), Europe House (16,400 sqm), Opera Center I ( 11,900 sqm), Opera Center II (3,500 sqm), Orchid Towers (36,300 sqm) and Riverplace (47,000 sqm).

(Photo: Nuthawut Somsuk/ Dreamstime)

andrei@romania-insider.com

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