The latest property industry and company news and analysis from FriedlNews
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Austrian Real Estate Market Headlines

Hermann Hauser’s Fund Amadeus Capital Partners Invests in Zoomsquare

The real estate web site Zoomsquare has secured financing with the help of Austrian risk capital provider Hermann Hauser, working in England. Shortly before the conclusion of another financing negotiation round Zoomsquare agreed to the investment of Hauser’s fund Amadeus Capital Partners, the company announced. It is the first investment in Austria for Hauser.

October 2, 2015

Austrian Property Investors Still Eager to Buy

The property market in Austria is still very attractive for investors. "Even though the result for the first half of 2015 was below the result for H1 2014, considering the exceptionally filled pipeline, the record level of EUR 3 billion (USD 3.368 billion) from 2014 should be reached again” Bank Austria analyst Karla Schestauber remarked.

October 1, 2015

CA Immo Sells Planned Property in Mainz for EUR 66 Million

CA Immo will build a residential and commercial complex with 18,500 square metres of rentable space in Mainz by 2018. The company has already sold the property for EUR 66 million (USD 74 million) to a special property fund of Aberdeen Asset Management.

October 1, 2015

Buwog Quarterly Result 15 Times Bigger

The profit-making acquisition of thousands of apartments in Germany mid 2014 has had a huge impact on Q1 figures of listed property developer Buwog. In the first three months of 2015/16 (May/July) the company’s net profit settled at EUR 96.6 million (USD 108 million), up from EUR 6.2 million posted a year ago. Also valuation effects had a significant impact on the financial result.

September 29, 2015

Benko's Retailer Karstadt Plans No Further Store Closures

Karstadt, the troubled retail group of Austrian investor Rene Benko, plans no further store closures, works' council head Jürgen Ettl told the news agency Reuters. Hard restructuring measures implemented to date are showing the first effects. The group expects a significant improvement in terms of operating results this year with EBITDA at a null level, he said. Net result will be negative in a medium double-digit range. Karstadt expects to turn to profit in the following fiscal year 2015/16.

September 24, 2015

Strabag Set to Enter Romanian Real Estate Market

Listed construction giant Strabag is entering the Romanian real estate market and to this aim took over Bucharest-based development team of Raiffeisen Evolution, the company said.

September 23, 2015

Signa Holding Real Estate Sees Shareholders' Reshuffle

Signa Holding, a company of Austrian property magnate Rene Benko, saw some reshuffling of its shareholder structure. Falcon Private Bank, controlled by a state fund of Abu Dhabi entered with 24.9 percent, while Lindt & Sprüngli CEO Ernst Tanner with 10 percent, Signa said.

September 21, 2015

CA Immo Sells Office Project in Poland to UBM

Property company CA Immo is selling its 50-percent stake in office project in Poland to its joint-venture partner UBM. The project is Poleczki Business Park at the Warsaw Airport. The value of the transaction of the sale of 50-percent stake exceeds EUR 80 million (USD 91.6 million).

September 21, 2015

Heta Bad Bank Received Double-Digit Number of Bids for Croatian Luxury Hotel

Heta, bad bank of nationalised lender Hypo Alpe Adria, is waiting for offers for its Croatian hotel facility Skiper. The bank received a doubledigit number of non-binding bids, a Heta spokesman said without giving any further details.

September 18, 2015

Immofinanz Holds 38.7 Percent of Buwog

Listed property developer Immofinanz has reduced its stake in Buwog, the house and flat building company, from 49 to 38.7 percen, it was reported. Immofinanz held 8.5 million Buwog shares worth EUR 150 million (USD 171.7 million) on 15 September. What is more, the property developer has transferred ownership of 1.75 million shares under a conversion scheme.

September 18, 2015