IMMOFINANZ to sell €1b portfolio, increase exposure in retail sector

IMMOFINANZ has plans to sell €1 billion ($1 billion) of assets. The plans are part of the firm’s updated strategy following the majority takeover by CPI Property Group.

The company plans to continue its value-creating growth strategy with a strong focus on retail properties and office solutions.

These sales will concentrate on properties with a lower yield and single-tenant assets. The sales proceeds will be invested in higher-yielding retail and office properties in the core markets of the company or used to repay debt. In the course of a closer integration of the entire group, IMMOFINANZ is pursuing a retail- and office-focused strategy in the core markets, and targeted acquisitions will involve properties from CPI Property Group matching the strategy, according to the announcement.

Due to positive developments in tenant turnover and visitor footfall, the expansion of the retail portfolio will be supported by investments in local shopping centers that are