DGAP-News: IMMOFINANZ closes Silesia sale and starts new retail development project in Poland
(firmenpresse) - DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate
IMMOFINANZ closes Silesia sale and starts new retail development
project in Poland
13.09.2013 / 10:00
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IMMOFINANZ Group closed the sale of the Silesia City Center in Poland for
EUR 412 million to an international consortium of investors led by Allianz.
The sale price exceeded the book value, as reported, but no further details
on the transaction will be revealed. Parallel to the completion of this
sale, IMMOFINANZ has started another retail development project on the
Polish market. It involves the construction of a shopping center with
approx. 30,000 sqm of rentable space in Stalowa Wola. The investment is
expected to total EUR 50 million. Construction should start during the
first half of 2014, and completion is scheduled for the first half of 2015.
'For the 2013/14 financial year, we have set a goal to significantly
increase our development activities. Poland is one of our core markets and
a key location for our currently work on projects in the office, retail and
residential sectors', explained Eduard Zehetner, CEO of IMMOFINANZ Group.
'Cycle-optimised sales like the Silesia City Center generate the liquidity
for investments in new properties and again confirm our valuation approach
in Eastern Europe. The Silesia transaction also underscores and supports
the recovery that has taken hold on the investment market', indicated
Zehetner. According to CBRE, real estate transactions with a combined
volume of EUR 4.5 billion were completed in Eastern Europe during the first
half of 2013 - which is 60% over the comparable amount for 2012. The
responsibility for Silesia's center management is now taken by ECE, which
is part of the buyers' consortium.
With the start of this retail project in Stalowa Wola, IMMOFINANZ is
entering a catchment area with nearly 400,000 residents. This city in
south-eastern Poland (Voivodeship Ciscarpathia, 'Carpathian Foothills') is
a crossroads and, due to the steel industry, an important employer for the
entire region. This new shopping center will be realised together with the
development partner Acteeum Group, which has extensive experience on the
Polish retail market (shareholdings: 86% IMMOFINANZ Group, 14% Acteeum
Group).
'Stalowa Wola, a so-called secondary city, is a promising location for a
retail development project of this size because of the catchment area and
the moderate competitive situation. This is confirmed by the first positive
responses from potential tenants', added Zehetner.
In Poland IMMOFINANZ Group is currently realising the Nimbus office
building (19,000 sqm of rentable space) in Warsaw and the Tarasy Zamkowe
(37,000 sqm of rentable space), a shopping center with an extensive
entertainment and recreational offering in Lublin. The expansion of the
STOP.SHOP. retail warehouse chain is also continuing with two locations, in
Mlawa and in Ketrzyn, currently under construction. In the residential
segment, IMMOFINANZ Group is developing the Riverpark in Poznan (189
apartments) and the third construction stage of the Debowe Tarasy in
Katowice (317 apartments).
On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property companies 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 itsfounding
in 1990, the company has compiled a high-quality property portfolio that
now comprises more than 1,700 investment properties with a carrying amount
of approx. EUR 10.5 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.
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: 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(at)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(at)immofinanz.com
End of Corporate News
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13.09.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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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(at)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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230298 13.09.2013
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Datum: 13.09.2013 - 10:00 Uhr
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