All they need is retail and offices

Currently, logistics properties represent app. 8 pct of the group’s portfolio. Most of the assets are located in Germany, while the rest are situated in Poland, Hungary, Slovakia, Romania and Russia. After the sell-off, its retail assets will account for almost 49 pct of the company’s portfolio, with office properties making up 44 pct of the total. The Vienna-based developer, which is currently in talks on selling the portfolio, said that it now plans to concentrate its activities solely on the retail and office sectors and growing through acquisitions and development projects across the German, Austrian and Polish markets. According to its preliminary results, Immofinanz suffered a EUR 361.4 mln loss in the 2014/2015 financial year, partly due to the Russian economic turmoil. “We are very pleased with the development of our logistics segment. However, our major competitors are nearly ten-times as large and this prevents us from gaining