PRESS RELEASE : IMMOFINANZ acquires head office from Erste Group in prime Bucharest location and plans renovation into a sustainable myhive landmark building

DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Acquisition 
IMMOFINANZ acquires head office from Erste Group in prime Bucharest location and plans renovation into a sustainable 
myhive landmark building 
2021-03-23 / 12:20 
The issuer is solely responsible for the content of this announcement. 
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IMMOFINANZ acquires head office from Erste Group in prime Bucharest location and plans renovation into a sustainable 
myhive landmark building 
  . Acquisition of the Bucharest Financial Plaza in the heart of Bucharest for approximately EUR 36 million strengthens 
    IMMOFINANZ's market position 
  . Planned renovation of the property into a high-quality and green myhive building with a sustainability 
    certification of at least Gold 
  . Modern re-design of public area and planted city terrace create immediate value for the city and its residents 
IMMOFINANZ has acquired the Bucharest Financial Plaza office building, in a prime central location close to the 
historic center of Bucharest. The property is being sold by Banca Comerciala Româna (BCR), the largest financial 
services group in Romania and a subsidiary of the Austrian Erste Group Bank. The building, with gross rentable space of 
around 27,700 sqm (post-conversion), was BCR's head office until last year. The costs of the transaction amount to 
approximately EUR 36.0 million - the closing took place today. 
"This agreement represents an important step for IMMOFINANZ in strengthening its high-quality office portfolio and its 
innovative myhive office brand in Bucharest. The Romanian economy will recover rapidly from the decline caused by the 
pandemic in 2020 and we expect positive developments in the coming years," stated Dietmar Reindl, COO of IMMOFINANZ, 
highlighting the attractiveness of the market. "As part of the planned refurbishment into a high-quality, modern and 
sustainable office property under our flexible premium myhive brand, we will also provide more space for the public 
area and the green city terrace will bring a highly appealing central attraction to the residents of the city." The 
renovation work is scheduled to begin following the planning and approval phases in the second half of 2022, with 
completion scheduled for 2024. 
"The Bucharest Financial Plaza plays an important role in the latest developments in the city. It is uniquely located 
in the heart of Bucharest and offers access to a multitude of shops, restaurants and recreational activities. We are 
very pleased to have found IMMOFINANZ as a partner, with its many years of expertise in the Romanian market and the 
expertise to further develop the potential of this landmark", said Michael Werner, Real Estate Management Executive 
Director at BCR. 
The Bucharest Financial Plaza is not only the tallest office building in the city center at almost 70 metres, but is 
also an architectural symbol. The location on Calea Victoriei, the main street in the historic city center, provides 
excellent access to private and public transportation links, including three subway stations in close proximity. Since 
2000, the Bucharest Financial Plaza has also formed part of a popular shopping district. 
IMMOFINANZ in Romania 
IMMOFINANZ has been investing in Romania for over 17 years. As of 30 September 2020, the Romanian real estate portfolio 
had a carrying amount of EUR 757.3 million, equivalent to 15.3% of the overall portfolio. The 13 standing investments 
have rentable space of around 334,000 sqm, with an occupancy rate of 93.6%. The largest properties include the two 
Bucharest office buildings, myhive S Park and myhive Metroffice, as well as the two shopping centers VIVO! Cluj and 
VIVO! Constanta. 
On IMMOFINANZ 
IMMOFINANZ is a commercial real estate group whose activities are focused on the office and retail segments of seven 
core markets in Europe: Austria, Germany, Poland, Czech Republic, Slovakia, Hungary and Romania. The core business 
covers the management and development of properties, with a strong focus on the STOP SHOP (retail), VIVO! (retail) and 
myhive (office) brands, which stand for a commitment to quality and service. The company has a real estate portfolio of 
approximately EUR 4.9 billion covering around 210 properties. The company is listed on the stock exchanges in Vienna 
(leading ATX index) and Warsaw. Further information under: https://www.immofinanz.com 
For additional information please contact: 
Bettina Schragl 
Head of Corporate Communications and Investor Relations 
T [phone] 
M [phone] 
[e-mail] 
[e-mail] 
1100 Vienna, Wienerbergstraße 9, Austria 
www.immofinanz.com 
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2021-03-23 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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Language:     English 
Company:      IMMOFINANZ AG 
              Wienerbergstraße 9 
              1100 Vienna 
              Austria 
Phone:        [phone] - 2290 
Fax:          [phone] - 8290 
E-mail:       [e-mail] 
Internet:     http://www.immofinanz.com 
ISIN:         AT0000A21KS2 
WKN:          A2JN9W 
Listed:       Regulated Unofficial Market in Berlin, Frankfurt, Munich, Stuttgart; Warschau, Vienna Stock Exchange 
              (Official Market) 
EQS News ID:  1177539 
 
End of News   DGAP News Service 
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1177539 2021-03-23

(END) Dow Jones Newswires

March 23, 2021 07:22 ET (11:22 GMT)