Real estate investment company Aggregate Holdings S.A announced Friday that it has acquired a non-controlling minority stakes in two Austrian real estate companies, S Immo and Immofinanz.
Aggregate has acquired joint control over a 9.03% stake in S Immo AG (S Immo), the Vienna-listed real estate company focused on capital cities across Germany and Austria.
The S Immo portfolio comprises of c.70% commercial properties and c.30% residential properties, with c.70% of the portfolio located in Germany. Additionally, S Immo has a c.6% strategic minority stake in CA Immobilien Anlagen AG (CA Immo).
Aggregate, the shareholder in German Adler Group SA with c.27% stake, also confirmed that it may be considering a potential acquisition of a stake in CA Immo, which may also include launching a partial takeover offer for shares in CA Immo in accordance with the provisions of the Austrian Takeover Act (ÜbG).
”There is no certainty that any such acquisition in relation to CA Immo will proceed, nor as to the terms and conditions thereof,” said the company in a statement.
Aggregate has also acquired joint control over a 10.54% stake in Immofinanz AG (Immofinanz), the Vienna-listed real estate company focussed on major office locations in Germany and capital cities in Central and Eastern Europe. Office properties account for c.60% of the portfolio, with retail properties accounting for the remaining portion of the portfolio.