Immofinanz spins off logistics business
Investment & financeschedule 07 August 2015
EUROPE Immofinanz has decided to sell its 1 mln sqm gla European logistics portfolio and put more focus on its other business lines, retail and office, in Poland, Austria and Germany instead.
Currently, logistics properties represent app. 8 pct of the Group’s portfolio. Most of the assets are located in Germany, while the rest of them is situated in Poland, Hungary, Slovakia, Romania and Russia. After the transaction, retail assets will account for almost 49 pct of the company’s portfolio, with office properties making up app. 44 pct of the Immofinanz projects.The Vienna-based developer, which is currently in talks on the sale, said that it now plans on concentrating its activiti
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