S IMMO AG sells commercial park near Munich and seeks further sales of German commercial properties

The listed company S IMMO AG has sold the Ikaruspark commercial park in Puchheim near Munich as part of an asset deal to IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH, which acted on behalf of the "Palmira Unternehmensimmobilien Club 2" special fund. The commercial park is in the immediate vicinity of the Munich motorway ring road and has a total lettable area of around 14,500 sqm. The parties involved have agreed not to disclose the details of the transaction.

In the course of its current sales programme of residential properties on the German market and further market explorations in recent months, S IMMO AG has noticed a solid interest from local market participants in single commercial properties. The Management and Supervisory Board have therefore decided to expand the sales programme in Germany to include German commercial properties outside of Berlin. In total, the affected commercial portfolio of S IMMO AG comprises more than 20 properties in Erfurt, Halle, Leipzig, Hamburg, Kiel, Bremen, Magdeburg, Potsdam, Weimar and Rostock. While the actual sales volume is uncertain at this stage, total proceeds could potentially exceed EUR 200m.