CPI Europe AG — M&A Activity 2014

Dec 22, 2014

News Details

Corporate | 22 December 2014 09:47

IMMOFINANZ AG: IMMOFINANZ Group: subsidiary DLG sells logistics property in Vaihingen

DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Disposal

22.12.2014 / 09:47

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Deutsche Lagerhaus (DLG), a wholly-owned subsidiary of IMMOFINANZ Group,
has sold its logistics property in Vaihingen an der Enz, Germany, which was
jointly held with greenfield development to the Dutch company Geneba
Properties N.V. The sales price exceeded the book value, the transaction
took place as a share deal. The property is a proprietary development built
in 2013/14 as part of a joint venture (75% DLG, 25% greenfield).

"This transaction not only confirms the increased interest in logistics
assets in Germany and therefore the positive dynamics of this asset class;
the development and subsequently the rapid sale of the property in
Vaihingen are in fact a prime example of the functioning of our real estate
machine", says Eduard Zehetner, CEO of IMMOFINANZ Group. "IMMOFINANZ was
able to generate a substantial development profit with it regarding
building costs".

The liquid assets generated with the sale will be invested in the
development of new logistics properties in Germany, where DLG's position as
an important logistics player is to be expanded further.

The property sold is centrally located on a 71,535 sqm site at
Otto-Hahn-Strasse 10 in Vaihingen an der Enz in Southwest Germany. It has a
good connection to the German motorway system in all directions. There is
also a sufficient number of parking spaces for cars and trucks.

Construction began in July 2013 and was completed on schedule at the
beginning of 2014. The 44,456 sqm of total lettable space has been
allocated in its entirety to well-known logistics companies: DSV (30,539
sqm) operates a central warehouse for electric power tools (AEG Powertools,
Milwaukee); the company Dachser uses its lettable space (13,917 sqm) among
others for handling Tesa products.

On Deutsche Lagerhaus GmbH u. Co.KG
Deutsche Lagerhaus Gesellschaft (DLG) has a wide-ranging logistics
portfolio with a total of 23 locations in Germany. Of the 26 properties, 6
properties are in a port area. In Germany the logistics properties are
located in the Rhine-Ruhr, Rhine-Main, Stuttgart and Munich/Nuremberg
conurbations. DLG manages a standing investment portfolio totalling approx.
880,000 sqm of usable space, the land areas of which comprise approx. 1.5
million sqm. Its network of warehouse and logistics properties is located
in areas with very good transport connections and is partly multimodal. The
DLG logistic parks and halls were planned, developed and built to
accommodate a variety of uses such as warehousing, cross-docking and
production.

On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed commercial real estate
investors and developers in Central and Eastern Europe and is listed on the
leading ATX index of the Vienna Stock Exchange as well as on the Warsaw
Stock Exchange. Since its foundation in 1990, the company has developed a
high-quality portfolio that now comprises more than 470 properties with a
carrying amount of approx. EUR 6.8 billion. As a "real estate machine" the
company concentrates on linking its three core business areas: the
development of sustainable, specially designed prime properties in premium
locations, the professional management of these properties and
cycle-optimised sales. IMMOFINANZ Group focuses its activities in the
retail, office and logistics segments in eight regional core markets:
Austria, Germany, the Czech Republic, Slovakia, Hungary, Romania, Poland
and Russia. Further information: http://www.immofinanz.com /
http://blog.immofinanz.com / http://properties.immofinanz.com

For additional information please contact:

MEDIA INQUIRIES
Bettina Schragl
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ Group
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com

INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance & Investor Relations
IMMOFINANZ Group
T +43 (0)1 88 090 2312
M +43 (0)699 1685 7312
investor@immofinanz.com

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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)

End of News DGAP News-Service

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