EQS-News: IMMOFINANZ sells office development in Bucharest
EQS-News: IMMOFINANZ AG / Key word(s): Real Estate/Disposal
IMMOFINANZ sells office development in Bucharest
20.08.2024 / 08:31 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Press Release | Corporate News
Vienna, 20 August 2024
IMMOFINANZ sells office development in Bucharest
IMMOFINANZ is taking another step in its strategic portfolio optimisation
by selling the myhive Victoriei office development in the old town of
Bucharest for approximately EUR 27 million. The sale of the property to
AFI Europe is made above its current carrying amount.
“The successful sale of the office development in Bucharest shows that we
are consistently implementing our focused portfolio strategy even in a
challenging market environment. We will reinvest the proceeds from the
sale in value-creating purchases of higher yielding properties in our core
markets,” says Radka Doehring, member of the IMMOFINANZ Executive Board.
The office complex is the highest building in the center of Bucharest with
approximately 31,000 sqm of usable space. The property is currently vacant
for the purpose of carrying out a complete refurbishment. The
corresponding building permit for the conversion to a Class A property
will be transferred to the buyer.
On IMMOFINANZ
IMMOFINANZ Group is a commercial real estate group whose activities are
focused on the office and retail segments of eight core markets in Europe:
Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and
the Adriatic region. The core business covers the management and
development of properties, whereby IMMOFINANZ relies on its established
real estate brands – STOP SHOP (retail), VIVO! (retail) and myhive
(office) – and also on complementary products and portfolios that include
S IMMO. IMMOFINANZ increased its investment in S IMMO to 50% plus one
share at the end of 2022 and now consolidates this company in full.
IMMOFINANZ Group holds roughly 500 properties with a combined value of
approximately EUR 8.1 billion. IMMOFINANZ is listed on the stock exchanges
in Vienna (leading ATX index) and Warsaw. Further information under:
[1] https://www.immofinanz.com
For additional information contact:
Simone Korbelius
Investor Relations and Corporate Communications
T +43 (0)1 88 090 2291
M +43 (0)699 1685 7291
[2]communications@immofinanz.com
[3]investor@immofinanz.com 1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com
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20.08.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 9
1100 Vienna
Austria
Phone: +43 (0) 1 88090 – 2291
Fax: +43 1 88090 – 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000A21KS2
WKN: A2JN9W
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Munich,
Stuttgart, Tradegate Exchange; Warschau, Vienna Stock
Exchange (Official Market)
EQS News ID: 1970851
End of News EQS News Service
1970851 20.08.2024 CET/CEST
References
Visible links
1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=80e0770945341ce94336a25dcef56fde&application_id=1970851&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
2. communications@immofinanz.com
3. investor@immofinanz.com
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