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Sign in Sign up for a FREE subscriptionSix Vienna offices sell for €411m
Immofinanz has plans to sell Vienna office offices to S IMMO for €411 million ($436 million).
The transaction will cover six standing assets with roughly 128,000 square meters (1.4 million square feet) of rentable space and one development project with nearly 20,000 square meters (215,278 square feet) of space that will be completed in summer 2023.
“The potential transaction reflects Immofinanz’s strategy and will strengthen the portfolio focus within the corporate group. The management and rental of the buildings belonging to the innovative myhive office brand will still be carried out by the Immofinanz team after the sale to S Immo,” said Immofinanz in a news release.
As IMMOFINANZ holds a controlling interest of 50 percent plus 1 share in S IMMO, this transaction will have no effect on the Group’s asset, financial or earnings position.
