Immofinanz

In 1990, Constantia Privatbank and Bankhaus Schoeller & Co founded the company C&S Immobilien Anlagen AG, which was subsequently listed on the stock exchange in 1991. After Bankhaus Schoeller's withdrawal in 1994, the company was renamed Immofinanz Immobilien Anlagen AG.{{Cite web |last=Himmelfreundpointner/hahn |first=Rainer |date=2013-01-15 |title=Aufstieg, Fall und Comeback des Immofinanz-Konzerns |url=https://www.trend.at/skandale/immofinanz/aufstieg-fall-comeback-immofinanz-konzerns-350222 |access-date=2023-08-01 |website=trend.at |language=de}}Financial Report 2002/03. Immofinanz AGFinancial Report 2004/05. Immofinanz AG

In 1997, the company acquired the Business Park Vienna, where the Vienna Twin Tower was constructed. In 2000, Immofinanz took over all shares of Wipark Garagen AG, and in 2001, they acquired the City Tower Vienna and apartments in Houston.Financial Report 2003/04. Immofinanz AG

The regional segment Immoeast was established, marking the first foreign investment in Hungary. In December 2003, Immoeast Immobilien Anlagen AG went public.

In the fall of 2004, the company acquired BUWOG, which included around 20,000 residential units, and a majority stake in ESG Villach.{{Cite web |last=APA |first=WZ Online / |date=2007-11-04 |title=- Bundeswohnungen wurden 2004 verschleudert |url=https://www.tagblatt-wienerzeitung.at/nachrichten/archiv/92577_Bundeswohnungen-wurden-2004-verschleudert.html |access-date=2023-08-01 |website=Archiv |language=de}}

During the 2004/2005 fiscal year, Immofinanz entered the markets of Romania, Russia, and Slovakia, while ending its engagement in the US, which started in 2001.

In 2005/2006, Immofinanz acquired a portfolio of 440 properties in Italy, which is fully leased to the Italian state.Financial Report 2005/06. Immofinanz AG

In June 2008, the company purchased the real estate division of Constantia Privatbank, with 40% acquired directly and 60% through its subsidiary, Immoeast, leading to the internalization of the company's management.

During the 2008 financial crisis, Immofinanz experienced a significant decline in its market capitalization, losing over 95% of its value, and recorded a pre-tax loss of approximately 2.65 billion Euros.{{Cite web |title=Milliardenverlust für Immofinanz - oesterreich.ORF.at |url=https://wiev1.orf.at/stories/331741 |access-date=2023-08-01 |website=wiev1.orf.at}} The company faced a liquidity requirement of nearly 500 million Euros in September 2008, with uncertain financing.{{Cite web |last=Lammer |first=19 09 2008 um 23:06 von Josef Urschitz und Beate |date=2008-09-19 |title=Immofinanz schlittert in Liquiditätskrise |url=https://www.diepresse.com/415939/immofinanz-schlittert-in-liquiditaetskrise |access-date=2023-08-01 |website=Die Presse |language=de}} In October of the same year, Karl Petrikovics was replaced as CEO by Thomas Kleibl.{{Cite web |date=2008-10-06 |title=Immofinanz wechselt überraschend Vorstand aus |url=https://www.diepresse.com/420347/immofinanz-wechselt-ueberraschend-vorstand-aus |access-date=2023-08-01 |website=Die Presse |language=de}} Legal proceedings were initiated against former CEO Karl Petrikovics, and he was eventually sentenced to six years in prison. The chairman of the supervisory board, Schwager, was sentenced to four and a half years in prison as well.{{Cite web |last=Online |first=Wiener Zeitung |date=2013-04-12 |title=Immofinanz - Immofinanz-Prozess endete mit Haftstrafen |url=https://www.tagblatt-wienerzeitung.at/nachrichten/wirtschaft/oesterreich/539002_Immofinanz-Prozess-endete-mit-Haftstrafen.html |access-date=2023-08-01 |website=Wirtschaft Österreich - Wiener Zeitung Online |language=de}}

In 2009, Immoaustria was sold to Immoeast, and Wipark Garagen AG was sold to a subsidiary of Wiener Stadtwerke in April of the same year.{{Cite web |title=Wiener Stadtwerke-Firmen kaufen Wipark-Garagen |url=https://www.derstandard.at/story/1237228504451/immoeast-wiener-stadtwerke-firmen-kaufen-wipark-garagen |access-date=2023-08-01 |website=DER STANDARD |language=de-AT}}

On April 29, 2010, Immofinanz and Immoeast merged to form Immofinanz Group.{{Cite web |date=2017-05-23 |title=Immofinanz/Immoeast-Umtausch endgültig genehmigt |url=https://www.diepresse.com/5222861/immofinanzimmoeast-umtausch-endgueltig-genehmigt |access-date=2023-08-01 |website=Die Presse |language=de}}2009/10. Report Immofinanz AG

According to Forbes Magazine's ranking, Immofinanz is one of the 11 Austrian companies among the top 2000 (rank 1798).{{Cite web |date=2013-04-18 |title=Elf Firmen unter den weltweit größten |url=https://oesterreich.orf.at/v2/stories/2580565/ |access-date=2023-08-01 |website=oesterreich.orf.at |language=de}}

In April 2014, Immofinanz spun off 51% of its subsidiary BUWOG, and in 2018, the German residential company Vonovia acquired BUWOG.{{Cite web |date=2018-03-31 |title=Übernahme durch Vonovia: Was der Buwog-Deal für Mieter bedeutet |url=https://www.kleinezeitung.at/wirtschaft/5396799/Uebernahme-durch-Vonovia_Was-der-BuwogDeal-fuer-Mieter-bedeutet |access-date=2023-08-01 |website=www.kleinezeitung.at |language=de}}{{Cite web |title=Vonovia mit BUWOG Angebot erfolgreich |url=https://presse.vonovia.de/de-de/aktuelles/180312_buwog |access-date=2023-08-01 |website=presse.vonovia.de}}

In May 2015, Oliver Schumy became the new CEO of Immofinanz, and under his leadership, the company focused on the office and retail asset classes. All historical investor lawsuits were settled out of court.{{cite web|title=Financial Report 2014/15|website=Immofinanz AG|url=https://immofinanz.com/en/investor-relations/financial-reports}}

In August 2016, Immofinanz acquired approximately 26% of CA Immobilien Anlagen AG and intended to merge it with Immofinanz, creating one of the largest commercial real estate companies in Continental Europe. However, the merger plan was abandoned, and in July 2018, the entire stake was sold.{{Cite web |last=Himmelbauer |first=03 07 2018 um 07:56 von Leo |date=2018-07-02 |title=Immofinanz verkauft CA Immo-Anteil teuer an Starwood |url=https://www.diepresse.com/5457179/immofinanz-verkauft-ca-immo-anteil-teuer-an-starwood |access-date=2023-08-01 |website=Die Presse |language=de}}{{Cite web |title=Immofinanz und CA Immo: Getrennte Wege |url=https://www.derstandard.at/story/2000109482842/immofinanz-und-ca-immo-getrennte-wege |access-date=2023-08-01 |website=DER STANDARD |language=de-AT}}

In December 2016, the company decided to divest its Russian retail portfolio, leading to Immofinanz's exit from the Russian market in 2017. In 2018, Immofinanz acquired approximately 29% of S Immo AG.{{Cite web |last=Hecht |first=06 04 2018 um 12:42 von Judith |date=2018-04-05 |title=Immofinanz hat Altlasten bereinigt |url=https://www.diepresse.com/5400916/immofinanz-hat-altlasten-bereinigt |access-date=2023-08-01 |website=Die Presse |language=de}}

In March 2020, CEO Oliver Schumy stepped down as a board member, and in April 2020, Ronny Pecik was appointed as a board member and CEO as of the 4th May for a three-year term.{{Cite web |last=Stottmeyer |first=23 04 2020 um 14:18 von Madlen |date=2020-04-23 |title=Ronny Pecik wird neuer Immofinanz-Chef |url=https://www.diepresse.com/5804211/ronny-pecik-wird-neuer-immofinanz-chef |access-date=2023-08-01 |website=Die Presse |language=de}}

In June 2020, Immofinanz conducted a capital increase of around 356 million Euros, citing it as an investment for the future and a "strengthening of the capital base in the context of the Corona pandemic." However, the Interessensverband für Anleger (IVA) criticized the capital increase as a "hasty night-time action." The shares were allegedly issued well below their book value, benefiting institutional investors and Immofinanz CEO Ronny Pecik at the expense of small investors.{{Cite web |date=2020-07-09 |title=Kapitalerhöhung bei Immofinanz sorgt für Kritik |url=https://kurier.at/wirtschaft/kapitalerhoehung-bei-immofinanz-sorgt-fuer-kritik/400966574 |access-date=2023-08-01 |website=kurier.at |language=de}}{{Cite web |date=2020-07-10 |title=Kritisierte Immofinanz-Kapitalerhöhung: "Wollen aus der Krise wachsen" |url=https://www.fondsprofessionell.at/sachwerte/news/headline/kritisierte-immofinanz-kapitalerhoehung-wollen-aus-der-krise-wachsen-199117/ |access-date=2023-08-01 |website=www.fondsprofessionell.at |language=de}}

In June 2021, Ronny Pecik resigned as CEO.{{Cite web |last=red |first=ORF at/Agenturen |date=2021-06-29 |title=Vorstandschef Pecik verlässt Immofinanz |url=https://orf.at/stories/3219243/ |access-date=2023-08-01 |website=news.ORF.at |language=de}}

In January 2022, CPI Property Group (CPIPG) made a preemptive mandatory offer to the shareholders and holders of the convertible bond 2017-2024 of IMMOFINANZ. The result of the acceptance period (January 12 to February 23, 2022) was announced on February 24. According to the announcement, CPIPG held 55.07% of IMMOFINANZ, thereby gaining a controlling stake. The statutory three-month additional acceptance period for the offer ended on May 30, 2022. According to the ownership disclosure on May 31, CPIPG has since held 76.9% of IMMOFINANZ.[https://immofinanz.com/en/investor-relations/financial-reports Financial Report 2021]. In: Immofinanz.com. 2022, p. 42. Retrieved 6. July 2023.{{Cite web |title=Takeover offer from cpi property |url=https://immofinanz.com/en/investor-relations/takeover-offer-from-cpi-property-dec-2021-jan-2022 |access-date=2023-08-01 |website=immofinanz.com |language=de}}

As of May 1, 2022, Radka Doehring was appointed as a member of the board and took over the responsibilities of Dietmar Reindl and Stefan Schönauer, who exited the board on June 8, 2022. On June 16, 2023, Pavel Měchura was appointed as a member of the board. Therefore, the IMMOFINANZ board consists of Radka Doehring and Pavel Měchura.[https://immofinanz.com/en/investor-relations/financial-reports Financial Report 2022]. In: Immofinanz.com. 2023, p. 50–51. Retrieved 6. July 2023.{{Cite web |title=IMMOFINANZ {{!}} Executive Board member {{!}} Radka Doehring {{!}} IMMOFINANZ AG |url=https://immofinanz.com/en/news/immofinanz-radka-doehring-appointed-as-a-member-of-the-executive-board |access-date=2023-08-01 |website=immofinanz.com |language=en}}{{Cite web |title=Executive Board Changes (2022) {{!}} IMMOFINANZ AG |url=https://immofinanz.com/en/news/immofinanz-ag-changes-in-the-executive-board-1 |access-date=2023-08-01 |website=immofinanz.com |language=en}}

In 2018, IMMOFINANZ acquired around 29% of S Immo AG. Subsequently, in December 2022, IMMOFINANZ increased its stake in S Immo by acquiring 17,305,012 additional S Immo shares from CPIPG, thereby obtaining a majority stake of 50% plus one share in S Immo. As a result, the assets and liabilities of S Immo were consolidated into IMMOFINANZ's financial statements from December 31, 2022, and the profit and loss positions were incorporated from March 31, 2023.

In 2018, IMMOFINANZ acquired around 29% of S Immo AG. Subsequently, in December 2022, IMMOFINANZ increased its stake in S Immo by acquiring 17,305,012 additional S Immo shares from CPIPG, thereby obtaining a majority stake of 50% plus one share in S Immo. As a result, the assets and liabilities of S Immo were consolidated into IMMOFINANZ's financial statements from December 31, 2022, and the profit and loss positions were incorporated from March 31, 2023.[https://immofinanz.com/en/investor-relations/financial-reports Financial Report 2021]. In: Immofinanz.com. 2022, p. 44 u. 59. Retrieved 6. July 2023.{{Cite web |title=IMMOFINANZ increases shareholding in S IMMO to more than 50% |url=https://immofinanz.com/en/news/immofinanz-increases-shareholding-in-s-immo-to-more-than-50 |access-date=2023-08-01 |website=immofinanz.com |language=en}}

file:Myhive Park Postepu 21.jpg, Poland]]

file:VIVO! Hostivař.jpg, Czechia]]

Immofinanz operates the following brands:

Vivo! - Used since 2005 for shopping centers in cities with a catchment area of at least 200,000 inhabitants.Financial Report 2015/16. Immofinanz AG As of December 31, 20220, there were 10 locations in four countries with a total rentable area of approximately 312,400 m².[https://immofinanz.com/en/investor-relations/financial-reports Financial Report 2021]. S. 30–33. Retrieved 6. July 2023.

Stop Shop - Used since 2014 for retail parks in Central and Eastern Europe with a catchment area of 30,000 to 150,000 inhabitants. Stop Shops offer a rentable area of approximately 8,000 to 15,000 m² per location. As of December 31, 20220, there were 13493 locations in nineteen countries with a total rentable area of approximately 951,689,000 m².[https://immofinanz.com/en/investor-relations/financial-reports Financial Report 2021]. In: Immofinanz.com. 2022. p. 34–37. Retrieved 6. July 2023.

myhive - Used since 2016 for office buildings in the capital cities of Central and Eastern Europe. As of December 31, 20220, there were over 2127 locations with a total rentable area of approximately 592,491,000 m².[https://immofinanz.com/en/investor-relations/financial-reports Financial Report 2021]. In: Immofinanz.com. 2022. p. 24–27, Retrieved 6. July 2023.

The BUWOG affair refers to the suspicion that the former CEO of Immofinanz, Karl Petrikovics, obtained unlawfully information about the highest bid of competitors during the purchase of 60,000 federal apartments in 2004. It is alleged that he did so by paying a commission of 9.6 million Euros to the PR consultant Peter Hochegger and the lobbyist and former FPÖ politician Walter Meischberger.{{Cite web |date=2017-12-12 |title=Was Sie über den Buwog-Prozess wissen müssen |url=https://kurier.at/politik/inland/was-sie-ueber-den-buwog-prozess-wissen-muessen/301.619.969 |access-date=2023-08-01 |website=kurier.at |language=de}}

The Vienna Public Prosecutor's Office has initiated several proceedings in the case for suspected breach of trust, including against the former Minister of Finance, Karl-Heinz Grasser.

On July 21, 2016, the Economic and Corruption Prosecutor's Office announced that it would bring charges against Karl-Heinz Grasser, Peter Hochegger, Walter Meischberger, Ernst Plech, and twelve other individuals in the BUWOG and Terminal Tower cases. The alleged total damage amounts to ten million Euros, which carries a penalty of up to ten years in prison.{{Cite web |title=Korruptionsvorwürfe: Anklage gegen Grasser, Meischberger und Co |url=https://www.derstandard.at/story/2000041517255/anklage-gegen-grasser-meischberger-und-14-weitere-personen |access-date=2023-08-01 |website=DER STANDARD |language=de-AT}}

In December 2020, the verdict was issued: Former Finance Minister Karl Heinz Grasser was sentenced to eight years in prison. The co-defendants Walter Meischberger and Peter Hochegger were also found guilty. All verdicts are not final, as the lawyers have lodged appeals.{{Cite web |date=2020-12-04 |title=Urteil im Buwog-Prozess: Grasser, Meischberger, Hochegger sind schuldig |url=https://www.profil.at/oesterreich/live-ticker-grasser-und-das-urteil-im-buwog-prozess/401118489 |access-date=2023-08-01 |website=www.profil.at |language=de}}{{Cite web |title=Telekom und BUWOG |url=https://www.derstandard.at/consent/tcf/wirtschaft/wirtschaftspolitik/telekom-und-buwog |access-date=2023-08-01 |website=www.derstandard.at}}

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