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CPI Europe AG — M&A Activity 2011
Feb 28, 2011
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M&A Activity
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Corporate | 28 February 2011 10:31
IMMOFINANZ AG: IMMOFINANZ Group sells retail park in Germany
IMMOFINANZ AG / Key word(s): Miscellaneous
28.02.2011 / 10:31
IMMOFINANZ Group sells retail park in Germany
The IMMOFINANZ Group has made its next move in optimising its portfolio in
Germany. As part of its sales programme, the IMMOFINANZ Group successfully
sold a retail park in Castrop Rauxel (near Dortmund) via its 100%
subsidiary IMF Deutschland GmbH. The buyer, Cordea Savills German Retail
Fund, a Luxembourg-based investment fund specialised in retail property,
purchased the property for EUR 9.8 million.
The retail park was built in 2004 and is conveniently located for transport
links. The park has a total rental area of around 10,000 m² with 380
parking spaces and a tenant mix including Media Markt, Tedox and Dänisches
Bettenlager.
German property market recovering
The German property market is recording positive development. In Germany,
the total transaction volume (of commercial properties) in 2010 came to EUR
19.4 billion - twice the total recorded in 2009.
Dr. Manfred Wiltschnigg, member of the Executive Board of the IMMOFINANZ
Group: 'This property was our only retail park in Germany. In line with our
new portfolio strategy, the IMMOFINANZ Group will be focusing on managing
properties in the office, residential and logistics sectors in Germany from
now on.'
Contact:
Clemens Eisinger
Head of Corporate Finance & Investor Relations
IMMOFINANZ AG
A-1120 Wien, Gaudenzdorfer Gürtel 67
Tel.: +43 (0) 5 7111 - 2315
Fax: +43 (0) 5 7111 - 8290
[email protected]
www.immofinanz.com
Press-Coordination:
Hieronymus Tupay
ACCEDO Austria GmbH
Tel.: +43 1 533 87 00 - 23
[email protected]
End of Corporate News
28.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: IMMOFINANZ AG
Gaudenzdorfer Gürtel 67
A-1120 Wien
Österreich
Phone: +43 (0) 5 7111 - 2290
Fax: +43 (0) 5 7111 - 8290
E-mail: [email protected]
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
113661 28.02.2011