CA IMMO: ACQUISITION OF EUROPOLIS AG COMPLETED ON 1 JANUARY 2011
CA Immo strengthens market presence on CEE and SEE markets. Alois Vyleta to head CA Immo Real Estate Management Czech Republic from April 2011.
With property assets of approximately € 1.5 bn, the real estate company Europolis has been established in the CEE/SEE region since 1990. With effect from 1 January 2011, Europolis became part of the CA Immo Group, which operates in Central Europe. For several years, the Czech Republic has been one of the Group's main markets. Taking Europolis into account, the CA Immo Group's property assets in the Czech Republic amount to some € 440 m; over the long term, these Czech assets will be retained in the portfolio or further expanded. The high quality asset portfolio in the Czech Republic comprises five office properties, two hotels, three retail objects and a school. Until now, CA Immo had no regional branch office in Prague. By April 2011, both Europolis and CA Immo´s properties will be overseen by the local subsidiary CA Immo Real Estate Management Czech Republic, with all of the Group's business in the region managed under the CA Immo brand from this point. The newly formed subsidiary will be based on the expertise of Europolis Real Estate Asset Management GmbH (EREAM) and will be headed by Alois Vyleta.
According to Dr. Bruno Ettenauer, Chief Executive Officer of CA Immo, “The acquisition of Europolis has enabled us to consolidate our position as one of Central Europe's leading real estate companies and raise our profile on the key market of the Czech Republic for the long term.”
Alois Vyleta, head of CA Immo Czech Republic, says that, “The synergy of merging the management of Europolis and CA Immo´s properties will produce benefits for both our company and the tenants of our properties. Being part of a financially robust international group is the best way for us to build our presence on the Czech market.”
About CA Immo
CA Immo was founded in 1987. The company invests in commercial real estate (and in particular offices) in Austria, Germany and Eastern Europe. Taking account of properties worth some € 1.5 bn acquired through the takeover of Europolis, CA Immo's property assets at the start of 2011 stand at just over € 5 bn; the CEE/SEE and Germany each account for around 40 % of this total. The Group's portfolio in the Czech Republic comprises some 230,000 sqm of rentable effective area with an approximate value of € 440 m; properties include the Kavci Hory, Danube House, Nile House, Amazon Court and Technopark office buildings in Prague. CA Immo has been listed on the Vienna Stock Exchange since 1988, with free float of around 90 % at the present time.