CPI Europe AG — M&A Activity 2011

May 5, 2011

News Details

Corporate | 5 May 2011 12:54

IMMOFINANZ AG: IMMOFINANZ AG takes over 100% of Zagreb’s Grand Centar

IMMOFINANZ AG / Key word(s): Miscellaneous/Real Estate

05.05.2011 / 12:54

IMMOFINANZ AG takes over 100% of Zagreb's Grand Centar

As of 6 April 2011 IMMOFINANZ AG acquired the remaining 20% stake in the
Grand Centar in Zagreb through its subsidiary IMMOEAST Allegro Beteiligungs
GesmbH. This stake was previously held by Generali Immobilien AG. The Grand
Centar in Zagreb is one of the most important office properties in the
Croatian capital.

The Grand Centar is located in the central business district of Zagreb and,
with 15,883 sqm of rentable space (including 78% offices), is one of the
most attractive office sites in that city. The benefits of this prime
location and excellent infrastructure are enjoyed by tenants such as
Strabag AG, TPA Horvath and Cisco Systems.

'The acquisition of this 20% stake reflects our strategy to take on the
overall responsibility for our properties. We will now be able to dispose
over the object independently, to manage and market it in accordance with
our own objectives and to fully integrate it into our group', explained
Manfred Wiltschnigg, member of the IMMOFINANZ Executive Board, on the
reasons for purchasing this stake from Generali Immobilien AG.

The office market in Zagreb is beginning to recover, and the demand for
high-quality office space has started to increase. 'For us, it was the
ideal time to take over the final stake in the Grand Centar', added
Wiltschnigg in conclusion.

On the IMMOFINANZ Group
The 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
investment properties with a carrying amount of approx. EUR 8.5 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. The 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. In the first three quarters of
2010/11, the company generated a gross cash flow of EUR 303.2 million.
Further information under: www.immofinanz.com.

For additional information contact:

Sandra Bauer
Corporate Communications & Investor Relations
IMMOFINANZ Group
T +43 (0)5 7111 2292, M +43(0)699 1685 7292
s.bauer@immofinanz.com

Contact:
Simone Korbelius
Investor Relations & Corporate Communications
IMMOFINANZ AG
A-1100 Wien, Wienerbergstraße 11
Tel.: +43 (0) 5 7111 - 2291
Fax: +43 (0) 5 7111 - 8291

investor@immofinanz.com
www.immofinanz.com

End of Corporate News

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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Österreich
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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