Corporate | 13 February 2012 13:09
IMMOFINANZ AG / Key word(s): Disposal/Real Estate
13.02.2012 / 13:09
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IMMOFINANZ Group sells inner city palace in Vienna
IMMOFINANZ Group, Austria's largest real estate investor and developer, has
sold a historical inner city office building in Vienna to a private asset
management firm. This property was built in 1718 as the Batthyány Palace
and is located at Bankgasse 2 in the first district. The EUR 22 million
sale price for this property with over 3,300 sqm of rentable space exceeds
the carrying amount by more than 30%.
'Vienna is currently experiencing an increase in the demand for prime
properties at central locations, and selling prices are consequently
attractive. In this case the offering price was significantly higher than
the carrying amount, and we were happy to take advantage of this
opportunity', commented Eduard Zehetner, Chief Executive Officer of
IMMOFINANZ Group, on this latest transaction. 'The transaction also
represents another positive outcome of our coming to terms with the past,
since the property was part of the agreements related to the so-called IBAG
bond.'
In 2010/11 IMMOFINANZ Group approved a 5-year sale programme with a total
volume of EUR 2.5 billion that is intended to adjust and strengthen the
existing property portfolio. The sale of the Batthyány Palace marks the
continuation of the company's success course in realising this programme.
At the end of the first six months of 2011/12, IMMOFINANZ Group had already
exceeded its target for real estate sales.
On IMMOFINANZ Group
IMMOFINANZ Group is one of the five largest listed property companies in
Europe and is included in the leading ATX index of the Vienna Stock
Exchange. Since its founding in 1990, the company has compiled a
high-quality property portfolio that now comprises more than 1,600 standing
investment properties with a carrying amount of approx. EUR 8.7 billion.
The core business of the IMMOFINANZ Group covers the acquisition and the
active management of investment properties, the realisation of development
projects and the sale of objects. IMMOFINANZ Group concentrates its
activities in the retail, office, logistics and residential segments of
eight regional core markets: Austria, Germany, Czech Republic, Slovakia,
Hungary, Romania, Poland and Russia. Further information under
www.immofinanz.com.
Contact:
For additional information contact:
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance & Investor Relations
IMMOFINANZ AG
M +43 (0)699 1685 7312
investor@immofinanz.com
Simone Korbelius
Investor Relations
IMMOFINANZ AG
T +43 (0)5 7111 2291
investor@immofinanz.com
MEDIA INQUIRIES
Sandra Bauer
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ AG
T +43 (0)5 7111 2292
M +43 (0)699 1685 7292
communications@immofinanz.com
A-1100 Wien, Wienerbergstraße 11
www.immofinanz.com
End of Corporate News
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 5 7111 - 2291
Fax: +43 (0) 5 7111 - 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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156464 13.02.2012