“Vienna is currently experiencing an increase in the demand for prime properties at central locations, and selling prices are consequently attractive. In this case the offering price was significantly higher than the carrying amount, and we were happy to take advantage of this opportunity“, commented Eduard Zehetner, Chief Executive Officer of IMMOFINANZ Group, on this latest transaction. “The transaction also represents another positive outcome of our coming to terms with the past, since the property was part of the agreements related to the so-called IBAG bond.“
In 2010/11 IMMOFINANZ Group approved a 5-year sale programme with a total volume of EUR 2.5 billion that is intended to adjust and strengthen the existing property portfolio. The sale ofthe Batthyány Palace marks the continuation of the company’s success course in realising this programme. At the end of the first six months of 2011/12, IMMOFINANZ Group had already exceeded its target for real estate sales.
