Immofinanz announces the sale of a smaller Austrian retail portfolio to an Austrian real estate investor and, with this transaction, continues its strategic withdrawal from properties that are not part of the core business.
The portfolio covers 88 properties with approximately 108,000m² of rentable space in eight Austrian provinces. The parties to the transaction have agreed not to disclose any information on the purchase price. The closing will take place in several steps through the end of 2017.
The reduction in rental income resulting from this sale will be almost entirely offset by the recently announced acquisition of eight Stop Shops in Hungary and Slovakia.
