IMMOFINANZ: Letter of intent to sell Vienna office properties to S IMMO signed

IMMOFINANZ has signed a letter of intent to sell several office properties at the location on Vienna’s Wienerberg to S IMMO, a company in which it holds 50% plus one share. The transaction will cover six standing assets with roughly 128,000 sqm of rentable space and one development project with nearly 20,000 sqm of space that will be completed in summer 2023. The transaction volume will amount to approximately EUR 411.0 million. The closing for the purchase of the buildings is expected to take place in several tranches during 2023.

The potential transaction reflects IMMOFINANZ’s strategy and will strengthen the portfolio focus within the corporate group. The management and rental of the buildings belonging to the innovative myhive office brand will still be carried out by the IMMOFINANZ team after the sale to S IMMO.

As IMMOFINANZ holds a controlling interest of 50% plus 1 share in S IMMO, this transaction will have no effect on the Group’s asset, financial or earnings position.

 

On IMMOFINANZ

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. The real estate portfolio has a value of approximately EUR 5.5 billion and covers roughly 260 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:

Bettina Schragl
Head of Corporate Communications and Investor Relations
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com
investor@immofinanz.com

 

IMMOFINANZ
1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com