Züblin Immobilien Holding AG has announced that it has sold two properties in Switzerland. The sales price for both transactions was above the IFRS valuation of September 30, 2010. Total cash flow after tax and transaction costs is CHF 78 million (approx. 61 million).
Züblin sold its office building in Schwerzenbach with a rental space of 14,426 m² to Credit Suisse Real Estate Fund Interswiss. In addition the property at Feldstrasse in Zurich was sold to a private investor.
At the same time Züblin announces the successful prolongation of its mortgage refinancing obligations in the Netherlands with a value of 61 million as of February 2011.