IMMOFINANZ Group successfully continues portfolio optimisation

Published at: 2012-05-09 09:07 | Author: CIJ Journal
Since March 2012 IMMOFINANZ Group has sold four properties in Austria: two office buildings, one commercial building and a hotel. These transactions reflect the company’s strategy to sell properties that do not match the target portfolio with respect to size, location, quality or use. The proceeds on these sales amounted to over EUR 12 million and exceeded the carrying amount of the assets by a substantial margin. With the sale of the last project in Bosnia-Herzegovina, the Group has now also withdrawn completely from this market.

Sale of four properties in Austria
These four sales represent a further step by IMMOFINANZ Group to optimise its portfolio. The above-mentioned office buildings represent a property in the Herbeckstrasse in Vienna and a property in the Itzlinger Hauptstrasse in Salzburg. As planned, the company also sold a commercial property in Radstadt, Salzburg. The fourth transaction involved a hotel in the Taborstraße in Vienna, which is the first of several hotel sales planned for Austria over the next two years.

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