IVG Immobilien AG sold real estate in Brussels and Stockholm for €250 million in March. Following the sale of five properties in Budapest for €100 million, the Bonn-based real estate company is quickly implementing the sales programme that it announced in January. With the latest transactions in February and March, IVG generated an accounting profit of €80 million, which will contribute to earnings for the current financial year.
In Brussels, IVG sold the completely modernised and expanded 33-storey office tower Madou Plaza to the European Union. The 40,000 m² Madou Plaza was recognised at the MIPIM in Cannes with a MIPIM-Award, the Oscar of the real estate industry. IVG also sold several commercial and residential properties in Brussels, amounting to 12,500 m² of lease space on the shopping street Louise Village and is thus continuing to focus on office real estate. In Stockholm, IVG sold the 81,000 m² complex to an institutional investor.