DGAP-News

IMMOFINANZ plans portfolio concentration on retail and office sectors - growth with focus on Germany, Austria and Poland

DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Miscellaneous
IMMOFINANZ plans portfolio concentration on retail and office sectors
- growth with focus on Germany, Austria and Poland

07.08.2015 / 08:31

---------------------------------------------------------------------

* Plans approved for sale of logistics portfolio
* Sale of BUWOG investment in 2015/16
* Portfolio growth through acquisitions and project development
* Support for sustainable dividend policy

Following the successful spin-off of BUWOG and the resulting reorientation
of IMMOFINANZ as a pure commercial real estate company with a European
focus, activities will now be concentrated on the further simplification
and optimisation of the portfolio structure and on value-creating growth
through acquisitions and project development to strengthen the standing
investments and sustainable cash flow.

"We intend to concentrate the portfolio on our core retail and office
sectors and further expand IMMOFINANZ's competitive position in these
areas", explained IMMOFINANZ CEO Oliver Schumy. The Executive Board and
Supervisory Board of IMMOFINANZ have therefore approved plans for the sale
of the logistics portfolio with approx. 1 million sqm of rentable space.
The sale process has already started. Logistics properties represent
approx. 8% of the Group's portfolio after the sale of City Box. "We are
very pleased with the development of our logistics segment. However, our
major competitors are nearly ten-times as large and this prevents us from
gaining a leading position in our core region. The market is now seeing a
strong shift in investors' interest to logistics properties, a development
that is also reflected in attractive price levels", added the CEO.

After the planned sale of the logistics properties and the deduction of
recent sales (the City Box self-storage chain in the Netherlands,
residential properties and a hotel in Vienna), the structure of the
IMMOFINANZ portfolio would be as follows: 48.8% Retail, 43.7% Office and
7.5% Other, whereby the sale of the non-core properties bundled in this
last business area will be continued.

IMMOFINANZ also plans to divest its BUWOG shares, as previously announced.
This should take place during the 2015/16 financial year.

Focus of investments

The liquid funds generated from the planned sales will be invested in
acquisitions and the company's own development projects in the retail and
office asset classes. Austria, Germany and Poland will represent the
geographic focal points for these efforts. "Growth will be directed towards
improving sustainable profitability and creating a more balanced portfolio