Austrian CA Immo cashes in EUR 33 mln in rents in Romania

Austrian real estate investor CA Immo posted last year a rental income of almost EUR 33 million in Romania, up 10% over 2013, the investor announced in its most recent financial report. The group’s portfolio in Romania, which includes the Europolis Logistic Park project, five office buildings and a commercial project in Sibiu, had a 92.2% occupancy rate in 2014. The market value of its entire portfolio, which also includes plots, was estimated at some EUR 398 million, down 4% compared to the previous year, according to its most recent financial report. In February, CA Immo completed the sale of the logistic parks in Romania -Europolis Logistic Park- and Poland to P3. The company announced the transaction last autumn. Last year, the CA Immo also sold a 8,000 sqm plot in northern Bucharest. Following these transactions, the real estate investor still holds in Romania revenue-generating projects of EUR 204 million and a total portfolio worth EUR 298 million. The full financial report from CA Immo is online here (in pdf), while the complete annual report for 2014 is here. editor@romania-insider.com