CPI Europe AG — M&A Activity 2015

Nov 2, 2015

News Details

Corporate | 2 November 2015 08:16

IMMOFINANZ sells logistics portfolio to Blackstone

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

2015-11-02 / 08:16

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IMMOFINANZ has signed a contract with Blackstone for the sale of its entire
logistics portfolio. The transaction covers all 36 logistics standing
investments with approx. one million sqm of rentable space, which are
located for the most part in Germany (24 properties) as well as in Hungary
(5), Romania (3), Poland (2), Slovakia (1) and Russia (1). Blackstone will
also purchase three development projects with approx. 65,000 sqm currently
under construction in Hamburg (DE), Bucharest and Ploiesti (RO), which will
be completed by IMMOFINANZ, as well as land reserves. Blackstone will
integrate all the assets into Logicor, its European logistics platform.

The purchase price is determined by the property value of approx. EUR 536
million, less construction costs of approx. EUR 28 million for the three
development projects. This value roughly represents the total carrying
amount as of 31 July 2015 and confirms the revaluation of the logistics
properties during the 2014/15 financial year. The final purchase price will
be determined on the basis of financial statements prepared as of the
closing date.

The sale is subject to the normal suspensive conditions for this type of a
transaction, e.g. the consent of the antitrust authorities is required. The
closing is expected to take place during the first quarter of the 2016
calendar year.

"As announced nearly three months ago, the sale of the logistics portfolio
represents an important step to further simplify and optimise our portfolio
structure and strengthen the focus on our core expertise in the retail and
office segments", explained IMMOFINANZ CEO Oliver Schumy. "The liquid funds
released by the transaction will be invested in the expansion of our German
portfolio, which will grow to nearly 200,000 sqm of rentable space and up
to approx. EUR 40 million of rental income per year by mid-2018 with the
office development projects currently in progress."

These investments into German assets will increase the share of the
standing investment portfolio (based on the carrying amount) in Germany
from approx. 7.5% to nearly 13% (excluding logistics).

On IMMOFINANZ
IMMOFINANZ is a commercial real estate company whose activities are focused
on the retail and office segments of eight core markets in Europe: Austria,
Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Moscow. The
core business includes the management and development of properties. The
company has a real estate portfolio of approx. EUR 6.6 billion that covers
more than 440 properties. IMMOFINANZ is listed on the stock exchanges in
Vienna (leading ATX index) and Warsaw. Further information under:
http://www.immofinanz.com

For additional information contact:
Bettina Schragl
Head of Corporate Communications and Investor Relations
IMMOFINANZ
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com
investor@immofinanz.com

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2015-11-02 Dissemination of a Corporate News, transmitted by DGAP - a
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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: Regulated Unofficial Market in Berlin, Munich, Stuttgart;
Open Market in Frankfurt ; Wien (Amtlicher Handel /
Official Market)

End of News DGAP News Service

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