DGAP-News
IMMOFINANZ Group sells two logistics properties in Poland and the Czech Republic
DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Disposal
IMMOFINANZ Group sells two logistics properties in Poland and the
Czech Republic
28.07.2014 / 10:43
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IMMOFINANZ Group announces the recent sale of two logistics properties -
the Bokserska Distribution Park in Warsaw and the Westpoint Distribution
Park in Prague. Both transactions took place above book value, with the
combined proceeds totalling approx. EUR 33.2 million. The Westpoint
Distribution Park was sold to Central Group, a Czech investor, while the
Bokserska Distribution Park was sold to "UK & European Investments", a
well-known family office from Great Britain.
"These two transactions reflect our strategic exit from the logistics
sector in Poland and the Czech Republic. Our investments in the Czech
Republic are now concentrated in the retail and office asset classes. In
Poland, we currently hold two other logistics properties that are
designated for sale over the medium-term", explains Eduard Zehetner, CEO of
IMMOFINANZ Group. "Our focus for the development of logistics properties
lies on the core markets of Germany, Romania and Russia."
The Bokserska Distribution Park is located in a logistics area in the south
of Warsaw and has roughly 17,500 sqm of total space. The building was
constructed in 2001, is fully rented and has excellent connections to the
traffic network. The Westpoint Distribution Park, which was built in the
1970s, has nearly 64,000 sqm of total space.
With these sales, IMMOFINANZ Group has again demonstrated the steady
pursuit of its strategy to sell real estate whose use, size, location or
quality does not fit with the target portfolio.
On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property investors and
developers in Europe. The company is included in the leading ATX index of
the Vienna Stock Exchange and also trades on the Warsaw Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio with a carrying amount of approx. EUR 7.4 billion. As a
"real estate machine", the company concentrates on linking its three core
business areas: the development of sustainable, specially designed prime
properties in premium locations, the professional management of these
properties and cycle-optimised sales. Following the spin-off of BUWOG,
IMMOFINANZ Group has a sharpened profile as a specialist for office, retail
and logistics properties in Central and Eastern Europe as well as Russia.
Further information under: http://www.immofinanz.com |
http://blog.immofinanz.com | http://properties.immofinanz.com
For additional information please contact:
MEDIA INQUIRIES
Bettina Schragl
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ Group
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance & Investor Relations
IMMOFINANZ Group
T +43 (0)1 88 090 2312
M +43 (0)699 1685 7312
investor@immofinanz.com
End of Corporate News
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28.07.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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279517 28.07.2014
IMMOFINANZ Group announces the recent sale of two logistics properties -
the Bokserska Distribution Park in Warsaw and the Westpoint Distribution
Park in Prague. Both transactions took place above book value, with the
combined proceeds totalling approx. EUR 33.2 million. The Westpoint
Distribution Park was sold to Central Group, a Czech investor, while the
Bokserska Distribution Park was sold to "UK & European Investments", a
well-known family office from Great Britain.
"These two transactions reflect our strategic exit from the logistics
sector in Poland and the Czech Republic. Our investments in the Czech
Republic are now concentrated in the retail and office asset classes. In
Poland, we currently hold two other logistics properties that are
designated for sale over the medium-term", explains Eduard Zehetner, CEO of
IMMOFINANZ Group. "Our focus for the development of logistics properties
lies on the core markets of Germany, Romania and Russia."
The Bokserska Distribution Park is located in a logistics area in the south
of Warsaw and has roughly 17,500 sqm of total space. The building was
constructed in 2001, is fully rented and has excellent connections to the
traffic network. The Westpoint Distribution Park, which was built in the
1970s, has nearly 64,000 sqm of total space.
With these sales, IMMOFINANZ Group has again demonstrated the steady
pursuit of its strategy to sell real estate whose use, size, location or
quality does not fit with the target portfolio.
On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property investors and
developers in Europe. The company is included in the leading ATX index of
the Vienna Stock Exchange and also trades on the Warsaw Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio with a carrying amount of approx. EUR 7.4 billion. As a
"real estate machine", the company concentrates on linking its three core
business areas: the development of sustainable, specially designed prime
properties in premium locations, the professional management of these
properties and cycle-optimised sales. Following the spin-off of BUWOG,
IMMOFINANZ Group has a sharpened profile as a specialist for office, retail
and logistics properties in Central and Eastern Europe as well as Russia.
Further information under: http://www.immofinanz.com |
http://blog.immofinanz.com | http://properties.immofinanz.com
For additional information please contact:
MEDIA INQUIRIES
Bettina Schragl
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ Group
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance & Investor Relations
IMMOFINANZ Group
T +43 (0)1 88 090 2312
M +43 (0)699 1685 7312
investor@immofinanz.com
End of Corporate News
---------------------------------------------------------------------
28.07.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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279517 28.07.2014