CA Immobilien Anlagen AG has acquired a financing portfolio with an approximate nominal value of €428 mln from Österreichische Volksbanken AG. Secured real estate loans of CA Immo Group companies in Eastern Europe and unsecured financing at holding level each account for around half of the nominal amount. An agreement was made not to disclose the purchase price, which is below the nominal value.
According to Florian Nowotny, Chief Financial Officer at CA Immo, “This transaction will significantly strengthen the structure of our balance sheet. It is particularly gratifying that as a result, we will very quickly be able to utilize funds generated from the successful property sales of recent weeks. As early as the first quarter of 2014, we will feel the benefit of a lasting reduction in payable interest.”
