Immofinanz has completed six sales transactions with a total volume of €81 mln.
Immofinanz has completed six sales transactions with a total volume of €81 mln.
The Austrian-listed real estate group sold two properties in Austria - Gaudenzdorfer Gürtel 67 and Josefstädter Strasse 78 - and three logistics properties in Germany.
Immofinanz also sold a logistics property in Nice to a local investor, marking its exit from the French market.
'These six transactions represent a further important step to increase the turnover of our portfolio and thereby generate additional liquidity for our real estate machine,' said chief operations officer Manfred Wiltschnigg. 'We also ended our activities in France. The sale of our last asset in that country was an obvious move, since our goal is to concentrate on activities in our core markets', he added.
The Office Cube, a 5,200 M2 office property at Gaudenzdorfer Gürtel 67, was sold to German investor AIK Immobilien. AIK reported paying €12 mln.
Josefstädter Strasse 78 comprises 2,600 m2 of office and retail space.
The three logistics assets in Germany comprise a total of 80,000 m2 and were acquired by Beos Corporate Real Estate Fund Germany II, which is managed by German fund manager Beos.
Immofinanz launched a five-year, €2.5 bn sales programme during the 2010/11 financial year. It did not give an update on how much of this target has been achieved.
Vienna-headquartered Immofinanz is active in Austria, Germany and Central and Eastern Europe, including Russia. Its portfolio consists of 1,820 investment properties with a carrying value of €10.5 bn.
