CPI Europe AG — M&A Activity 2016

Dec 15, 2016

News Details

Corporate | 15 December 2016 15:10

IMMOFINANZ sells specialised Austrian retail portfolio and continues concentration on core businesses

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

15.12.2016 / 15:10
The issuer is solely responsible for the content of this announcement.

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IMMOFINANZ announces the sale of a smaller Austrian retail portfolio to an
Austrian real estate investor and, with this transaction, continues its
strategic withdrawal from properties that are not part of the core
business. The portfolio covers 88 properties with approx. 108,000 sqm of
rentable space in eight Austrian provinces. The parties to the transaction
have agreed not to disclose any information on the purchase price. The
closing will take place in several steps through the end of 2017.

"These sold properties are part of a complex specialised portfolio that is
tailored to the needs of a single major tenant. This sale represents a
further step in our portfolio optimisation, which calls for a concentration
on our STOP SHOP retail parks and our VIVO! shopping centers in the retail
sector. Both brands have a high degree of standardisation which allows for
fast and cost-efficient growth", indicated Oliver Schumy, CEO of
IMMOFINANZ.

The reduction in rental income resulting from this sale will be almost
entirely offset by the recently announced acquisition of eight STOP SHOPs
in Hungary and Slovakia.

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15.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2290
Fax: +43 (0) 1 88090 - 8290
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 ; Warschau, Wien (Amtlicher
Handel / Official Market)

 End of News    DGAP News Service