EQS-News: IMMOFINANZ: Letter of intent for the sale of the Hungarian office portfolio

EQS-News: IMMOFINANZ AG / Key word(s): Real Estate/Disposal
IMMOFINANZ: Letter of intent for the sale of the Hungarian office
portfolio

28.09.2022 / 12:49 CET/CEST
The issuer is solely responsible for the content of this announcement.

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IMMOFINANZ: Letter of intent for the sale of the Hungarian office
portfolio

IMMOFINANZ has signed a letter of intent for the sale of its Hungarian
office properties to S IMMO. This transaction is taking place through
close cooperation within the CPI Property Group to realise synergy effects
and can be used to extend IMMOFINANZ’s successful and flexible myhive
office solutions to the entire group. The Hungarian portfolio includes six
buildings in Budapest with roughly 124,000 sqm of rentable space. The
closing of the transaction could take place before the end of 2022.

The IMMOFINANZ portfolio strategy calls for the continuation of the
value-creating growth course. New investments will focus on retail and
office assets in the current market environment. In addition, active
portfolio management will include the sale of real estate with a combined
value of roughly EUR 1 billion and the investment in properties with
higher returns in the IMMOFINANZ core markets or the use of these funds to
repay debt.

In line with this strategy, IMMOFINANZ announced the recent sale of an
office building in Prague as well as the acquisition of a retail portfolio
from the CPI Property Group.

The sale of the Hungarian office properties to S IMMO would, from a legal
standpoint, represent a “transaction with related parties“. These types of
transactions are subject to high transparency and compliance requirements,
and IMMOFINANZ is committed to maintaining the highest corporate
governance standards.

 

On IMMOFINANZ

IMMOFINANZ is a commercial real estate group whose activities are focused
on the office and retail segments of eight core markets in Europe:
Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and
the Adriatic region. The core business covers the management and
development of properties, whereby the STOP SHOP (retail), VIVO! (retail)
and myhive (office) brands represent strong focal points that stand for
quality and service. With the new On Top Living brand, IMMOFINANZ is
expanding into sustainable and affordable living. The real estate
portfolio has a value of approximately EUR 5.4 billion and covers more
than 220 properties. IMMOFINANZ is listed on the stock exchanges in Vienna
(leading ATX index) and Warsaw. Further information under:
[1] https://www.immofinanz.com

 

 

For additional information contact:

Bettina Schragl
Head of Corporate Communications and Investor Relations
IMMOFINANZ AG
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290

[2]communications@immofinanz.com

[3]investor@immofinanz.com 1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com

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28.09.2022 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 9
1100 Vienna
Austria
Phone: +43 (0) 1 88090 – 2290
Fax: +43 (0) 1 88090 – 8290
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000A21KS2
WKN: A2JN9W
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Munich,
Stuttgart; Warschau, Vienna Stock Exchange (Official Market)
EQS News ID: 1452217

 
End of News EQS News Service

1452217  28.09.2022 CET/CEST

References

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2. communications@immofinanz.com
3. investor@immofinanz.com