News Article Austria CPI Property Group Immofinanz investment office Vienna
by Property Forum | Investment

Immofinanz is taking another step in optimising its portfolio by selling two office properties in Vienna. The properties in the 20th district of Vienna have been sold to an Austrian real estate investor. This sale follows several others executed by CPI Property Group, Immofinanz' majority owner, in a bid to raise cash for repaying debts.

“The most recent sales in Austria and Croatia show that we are also making very good progress in optimising our portfolio in the current market environment. These successful deals confirm that thanks to the high quality of our properties and the excellent performance of our teams, we are able to generate added value for our company even in the currently challenging environment. In line with our strategy, we will invest the proceeds from the sale in value-creating purchases of higher-yielding properties in our core markets“, says Radka Doehring, a member of the Immofinanz Executive Board.

The two office properties in Dresdnerstraße in Vienna’s 20th district offer modern and flexible offices with approximately 13,000 sqm of usable space in the northern business district of Vienna. The properties are fully rented and were sold above the carrying amount and in line with Immofinanz’s strategy.