CA IMMO: ACQUISITION OF EUROPOLIS AG COMPLETED ON 1 JANUARY 2011
• CA Immo strengthens market presence on CEE and SEE markets
• Andrzej Mikolajczyk to head CA Immo Real Estate Management Poland 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, Poland has been one of the Group's main markets. Taking Europolis into account, the CA Immo Group's property assets in Poland amount to some € 670 m; over the long term, these Polish assets will be retained in the portfolio or further expanded. The regional branch offices of Europolis and CA Immo in Eastern Europe will be merged by April 2011, with all of the Group's business in the region managed under the CA Immo brand from this point. CA Immo Real Estate Management Poland is the local subsidiary that will be responsible for overseeing the high quality asset portfolio in Poland (which comprises nine office properties, tow logistic parks as well as the project development Poleczki Business Park in Warsaw) from April 2011. The newly formed subsidiary will draw together the expertise of Europolis Real Estate Asset Management GmbH (EREAM) and Mahler Property GmbH (fully acquisition is planned within the next weeks), which has operated successfully in the field of Real Estate Management for many years. The company will be headed by Andrzej Mikolajczyk.
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 Poland for the long term.”
Andrzej Mikolajczyk, Head of CA Immo Real Estate Poland, says that, “By merging EREAM and Mahler Property, we are pooling our expertise in order to be an even more important player on the Polish market in the future. This synergy 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 Polish 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 Poland comprises some 430,000 sqm of rentable effective area with an approximate value of some € 670 m; properties include the Warsaw office buildings Warsaw Financial Center, the Bitwy-Warszawskiej and the Lipowy Office Park as well as the Poleczki Business Park. CA Immo has been listed on the Vienna Stock Exchange since 1988, with free float of around 90 % at the present time.