EQS-News: IMMOFINANZ AG
/ Key word(s): Real Estate/Disposal
IMMOFINANZ: Letter of intent for the sale of the Hungarian office portfolio
The IMMOFINANZ portfolio strategy calls for the continuation of the value-creating growth course. New investments will focus on retail and office assets in the current market environment. In addition, active portfolio management will include the sale of real estate with a combined value of roughly EUR 1 billion and the investment in properties with higher returns in the IMMOFINANZ core markets or the use of these funds to repay debt.
In line with this strategy, IMMOFINANZ announced the recent sale of an office building in Prague as well as the acquisition of a retail portfolio from the CPI Property Group.
The sale of the Hungarian office properties to S IMMO would, from a legal standpoint, represent a “transaction with related parties“. These types of transactions are subject to high transparency and compliance requirements, and IMMOFINANZ is committed to maintaining the highest corporate governance standards.
IMMOFINANZ 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 the STOP SHOP (retail), VIVO! (retail) and myhive (office) brands represent strong focal points that stand for quality and service. With the new On Top Living brand, IMMOFINANZ is expanding into sustainable and affordable living. The real estate portfolio has a value of approximately EUR 5.4 billion and covers more than 220 properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: https://www.immofinanz.com
For additional information contact:
28.09.2022 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com
|Phone:||+43 (0) 1 88090 - 2290|
|Fax:||+43 (0) 1 88090 - 8290|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt, Munich, Stuttgart; Warschau, Vienna Stock Exchange (Official Market)|
|EQS News ID:||1452217|
|End of News||EQS News Service|
1452217 28.09.2022 CET/CEST