DGAP-News: IMMOFINANZ Group concludes long-term financing agreement with Russian Sberbank: up to USD 715 million for Golden Babylon Rostokino in Moscow
(firmenpresse) - DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate
IMMOFINANZ Group concludes long-term financing agreement with Russian
Sberbank: up to USD 715 million for Golden Babylon Rostokino in Moscow
11.04.2012 / 11:21
---------------------------------------------------------------------
IMMOFINANZ Group, one of the largest foreign real estate investors on the
Moscow retail market, and the Russian Sberbank have concluded a long-term
financing agreement with a volume of up to USD 715 million. This ten-year
loan will be used by the project development company, above all to repay
the development financing provided by the parent company for the Golden
Babylon Rostokino shopping center.
'The conclusion of this financing arrangement marks our second success in
Russia in only a few days: at the end of March we reached an agreement with
our joint venture partner Patero for the full takeover of the most
profitable shopping center in IMMOFINANZ Group's portfolio and shortly
afterwards we finalised the refinancing. The funds released by this loan
will be used to continue our growth course and to realise new development
projects, especially in the East European markets where double-digit yields
can be generated', commented Eduard Zehetner, Chairman of the Executive
Board of IMMOFINANZ Group.
The Golden Babylon Rostokino shopping center in Moscow was developed as a
joint venture with Patero, a local firm, and opened in November 2009. An
agreement to acquire the remaining 50% of the Golden Babylon Rostokino from
the co-owner Patero was signed on 21 March 2012.
The Golden Babylon Rostokino shopping center is located in Sviblovo, a
densely populated district in Moscow. With 168,000 sqm of rentable space
and 241,000 sqm of total space, it is not only a flagship for the Moscow
retail sector but also one of the largest shopping centers in Continental
Europe. Over 500 shops are situated on two floors, and 7,500 parking spaces
are available for customers. The balanced tenant mix covers well-known
local and international retail chains, including Media Markt, H&M, Inditex
(Zara, Zara Home, Bershka, etc.), a Castorama building materials outlet,
the Finnish department store Stockmann and the Russian food hypermarket
O'key. This extensive offering is complimented by a cinema with 14 theaters
and numerous gastronomy facilities. The shopping center currently has an
occupancy rate of roughly 95%.
The transfer of the remaining shares in Golden Babylon Rostokino is
contingent upon the fulfillment of several conditions precedent, including
the approval of the Russian antitrust authorities.
On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property companies in Europe
and is included in the leading ATX index of the Vienna Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio that now comprises more than 1,830 investment properties
with a carrying amount of approx. EUR 9.81 billion. The core business of
IMMOFINANZ Group covers the acquisition and management of investment
properties, the realisation of development projects and the sale of
objects. IMMOFINANZ Group concentrates its activities in the retail,
office, logistics and residential segments of eight regional core markets:
Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and
Russia. Further information under: www.immofinanz.com.
Contact:
For additional information contact:
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance&Investor Relations
IMMOFINANZ AG
M +43 (0)699 1685 7312
investor(at)immofinanz.com
Simone Korbelius
Investor Relations
IMMOFINANZ AG
T +43 (0)5 7111 2291
investor(at)immofinanz.com
MEDIA INQUIRIES
Sandra Bauer
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ AG
T +43 (0)5 7111 2292
M +43 (0)699 1685 7292
communications(at)immofinanz.com
A-1100 Wien, Wienerbergstraße 11
www.immofinanz.com
End of Corporate News
---------------------------------------------------------------------
11.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory 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) 5 7111 - 2291
Fax: +43 (0) 5 7111 - 8291
E-mail: investor(at)immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
---------------------------------------------------------------------
164445 11.04.2012
Themen in dieser Pressemitteilung:
immofinanz-group-concludes-long
term-financing-agreement-with-russian-sberbank-up-to-usd-715-million-for-golden-babylon-rostokino-in-moscow
Unternehmensinformation / Kurzprofil:
Datum: 11.04.2012 - 11:21 Uhr
Sprache: Deutsch
News-ID 133696
Anzahl Zeichen: 4607
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 283 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: IMMOFINANZ Group concludes long-term financing agreement with Russian Sberbank: up to USD 715 million for Golden Babylon Rostokino in Moscow"
steht unter der journalistisch-redaktionellen Verantwortung von
IMMOFINANZ AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
