DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Disposal
2016-02-01 / 17:24
The issuer is solely responsible for the content of this announcement.

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IMMOFINANZ has successfully completed the sale of its logistics portfolio to Blackstone. Blackstone will integrate all the assets into Logicor, its European logistics platform. The closing took place today, Monday, and leads to net cash inflows (after the repayment of loans) of approx. EUR 305 million. Of this total, about EUR 245 million will be transferred immediately. The remainder will be received by the end of October 2016 after the transfer of the three development projects, which will be completed by IMMOFINANZ as planned.

The transaction is based on a total property value of approx. EUR 536 million, less outstanding construction costs of approx. EUR 28 million for the three development projects. This reflects the value of the properties as of 31 July 2015.

"With this sale, we have completed the reorientation of IMMOFINANZ to focus exclusively on the retail and office commercial asset classes. The funds generated by the sale will strengthen our balance sheet and will be invested in the expansion of our high-quality office portfolio in Germany by 2018", explained Oliver Schumy, CEO of IMMOFINANZ.
Blackstone acquired all 36 logistics standing investments with approx. one million sqm of rentable space. The properties are located primarily in Germany (24) as well as in Hungary (5), Romania (3), Poland (2), Slovakia (1) and Russia (1). The transaction also included three development projects in Hamburg (DE), Bucharest and Ploiesti (RO) and land reserves.

On IMMOFINANZ 
IMMOFINANZ is a commercial real estate company whose activities are focused on the retail and office segments of eight core markets in Europe: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Moscow. The core business includes the management and development of properties. The company has a real estate portfolio of approx. EUR 6.2 billion that covers more than 390 properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: http://www.immofinanz.com


For additional information contact:
Bettina Schragl
Head of Corporate Communications and Investor Relations IMMOFINANZ 
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com I investor@immofinanz.com

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2016-02-01 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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) 1 88090 - 2291 Fax: +43 (0) 1 88090 - 8291 E-mail: investor@immofinanz.com Internet: http://www.immofinanz.com ISIN: AT0000809058 WKN: 911064 Listed: Regulated Unofficial Market in Berlin, Munich, Stuttgart; Open Market in Frankfurt ; Wien (Amtlicher Handel / Official Market)  
   
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