CA IMMO: ACQUISITION OF EUROPOLIS AG COMPLETED ON 1 JANUARY 2011
• CA Immo strengthens market presence on CEE and SEE markets
• Marian Roman to head CA Immo Real Estate Management Romania 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, Romania has been one of the Group's main markets. Taking Europolis into account, the CA Immo Group's property assets in Romania amount to some € 360 m; over the long term, these Romanian 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 Romania is the local subsidiary that will be responsible for overseeing the high quality asset portfolio in Romania (which comprises five office properties, one retail object, two logistic parks and certain land reserves for planned development projects) from April 2011. The newly formed subsidiary will draw together the expertise of Europolis Real Estate Asset Management GmbH (EREAM) and CA Immo SRL, which has operated successfully in the field of asset and property management for many years. The company will be headed by Marian Roman. Florin Popescu is going to head all property management agendas and provides his excellent market expertise in terms of leasing activities.
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 Romania for the long term.”
Marian Roman, head of CA Immo Romania, says that, “By merging EREAM and CA Immo SRL, we are pooling our expertise in order to be an even more important player on the Romanian market in the future. This synergy will produce benefits for both our company and the tenants of our properties.”
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 Romania comprises some 330,000 sqm of rentable effective area with an approximate value of some € 360 m; properties include the Bucharest office buildings Opera Business Center, River Place and Europehouse. CA Immo has been listed on the Vienna Stock Exchange since 1988, with free float of around 90 % at the present time.