DGAP-News: IMMOFINANZ Group acquires 100% of Panta Rhei office development project in Düsseldorf
(firmenpresse) - DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate
IMMOFINANZ Group acquires 100% of Panta Rhei office development
project in Düsseldorf
26.04.2012 / 10:32
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IMMOFINANZ Group announces the acquisition of the remaining 50% stake in
the Panta Rhei, a planned office development project in Düsseldorf, from
the co-owner FRANKONIA Group. This project was originally planned as a
50:50 joint venture, but IMMOFINANZ Group has decided in favour of a full
takeover. The parties have agreed not to reveal any information on the
purchase price.
'Our real estate machine is running smoothly - and the purchase of the
remaining stake in the Panta Rhei is a perfect example. The re-investment
of liquid funds generated by other areas of our business in development
projects allows us to produce sustainable properties at a clearly defined
and constantly high quality level, for example this building in Düsseldorf.
The location is promising - the Panta Rhei will certainly have a special
standing in the Airport City', commented Eduard Zehetner, Chairman of the
Executive Board of IMMOFINANZ Group.
The Panta Rhei involves the construction of a prime office complex with
approx. 9,600 sqm of rentable space. One highlight of this building in the
Airport City Düsseldorf will be its unusual design, which was created by
the well-known architects RKW (Rhode Kellermann Wawrowsky). Construction is
currently scheduled to start in summer 2012. This project will expand
IMMOFINANZ Group's development portfolio, which comprised 36 properties
with a combined carrying amount of EUR 432.2 million as of 31 January 2012.
The full takeover of this project also marks a further step in the steady
implementation of the company's strategy to either sell non-controlling
interests, to convert these interests into majority holdings or to complete
the full takeover of the property for its own portfolio.
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
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26.04.2012 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,
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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) 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
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166771 26.04.2012
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Datum: 26.04.2012 - 10:32 Uhr
Sprache: Deutsch
News-ID 139420
Anzahl Zeichen: 5508
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Kategorie:
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