Immofinanz has signed a letter of intent to sell several office properties at the location on Vienna’s Wienerberg to S Immo, a company in which it holds 50% plus one share.
The transaction will cover six standing assets with roughly 128,000 sqm of rentable space and one development project with nearly 20,000 sqm of space that will be completed in summer 2023.
The transaction volume will amount to approximately €411 million. The closing for the purchase of the buildings is expected to take place in several tranches during 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 press release.
As Immofinanz holds a controlling interest of 50% plus 1 share in S Immo, this transaction will have no effect on the Group’s asset, financial or earnings position, the company added.