Austrian property group Immoeast has sold Wipark Garagen, an operator of 10,600 parking places in Vienna, Graz and Budapest, to STPM Städtische Parkraummanagement GmbH and Parkraum Wien Management GmbH, two companies belonging to the public utility firm Wiener Stadtwerke. Immoeast said on Friday that the buyer was the best bidder to emerge from the tendering process.
Austrian property group Immoeast has sold Wipark Garagen, an operator of 10,600 parking places in Vienna, Graz and Budapest, to STPM Städtische Parkraummanagement GmbH and Parkraum Wien Management GmbH, two companies belonging to the public utility firm Wiener Stadtwerke. Immoeast said on Friday that the buyer was the best bidder to emerge from the tendering process.
The sale is part of Immoeast's new strategy of focusing on the office, retail, logistics and residential segments. At the same time, the sale makes a substantial contribution to the necessary stabilisation of liquidity in the Immofinanz Group, the company said.
Confidentiality was agreed concerning the purchase price and other conditions of the transaction. The acquisition is subject to approval by the competent competition authority.
