IMMOFINANZ sells office properties in Warsaw
IMMOFINANZ is selling an office property complex in Warsaw to a Polish real estate investor, thus taking another step in its strategic portfolio optimisation.
IMMOFINANZ has successfully completed the sale of three office buildings in Warsaw to the Polish ECHO Investment Group. The transaction price amounts to EUR 28.5 million. Located in Warsaw’s Mokotów Business District, the office complex has approximately 43,000 sqm of usable space. The sale is in line with the portfolio optimisation strategy of IMMOFINANZ and was carried out at approximately carrying amount.
“We are pleased about the successful sale as part of our portfolio optimisation programme and will reinvest the released liquidity in the value-creating expansion of our innovative office and retail solutions,” says Radka Doehring, member of the IMMOFINANZ Executive Board.
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 IMMOFINANZ relies on its established real estate brands – STOP SHOP (retail), VIVO! (retail) and myhive (office) – and also on complementary products and portfolios that include S IMMO. IMMOFINANZ increased its investment in S IMMO to 50% plus one share at the end of 2022 and now consolidates this company in full. IMMOFINANZ Group holds roughly 500 properties with a combined value of approximately EUR 8.1 billion. 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:
Simone Korbelius
Investor Relations and Corporate Communications
T +43 (0)1 88 090 2291
M +43 (0)699 1685 7291
communications@immofinanz.com
investor@immofinanz.com
IMMOFINANZ
1100 Vienna, Wienerbergstraße 9,
Austria
www.immofinanz.com