Züblin Immobilien sales German real estate portfolio for €152m

Züblin Immobilien

Züblin Immobilien Holding and the UK listed and domiciled property investment company CLS Holdings have closed the transaction including all twelve German properties with an underlying gross asset value of €152m. Eleven properties were sold in a share deal, i.e. via the sale of two existing Züblin subsidiaries. One property was sold via a direct purchase. Altogether the company has cleared €56m from the transaction.

 

Dr. Iosif Bakaleynik, Chairman and CEO comments: “The successful completion of this transaction enabled Züblin to realize value at a very attractive level. It also opens opportunities to grow the company and to create shareholder value by reinvesting available funds into carefully selected assets.”

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