CPI Property Group
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254
Press Release - Corporate News
Luxembourg, 31 March 2023
CPI PROPERTY GROUP – Disposal Update
CPI Property Group (“CPIPG”, or together with its subsidiaries the “Group”) is pleased to acknowledge the recent press release of our subsidiary IMMOFINANZ AG regarding their disposal progress in Austria. This is consistent with the Group’s ongoing disposal plans.
In total, the Group has now signed about €400m of disposals in Q1 2023.
The press release of IMMOFINANZ AG issued on 31 March 2023 is copied below in its entirety.
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IMMOFINANZ is taking another important step in optimising its portfolio by selling an office property in Vienna. The “Bureau am Belvedere” building, with nearly 9,000 sqm of space, was sold to an Austrian investor.
“After successful sales totalling roughly EUR 166 million last year, the current transaction in Vienna is another step in implementing our portfolio strategy. The sale also proves that there is strong demand for our properties in the current environment. That is why we are making very good progress with our portfolio optimisation and the stronger focus on retail properties and office solutions with a higher yield that comes along with it,” says Radka Doehring, Executive Chairwoman of IMMOFINANZ.
The “Bureau am Belvedere” office building is located in the urban center, in Vienna’s fourth district, and has an excellent view of the Belvedere Palace and the palace gardens. The property is fully rented. The transaction was carried out in line with IMMOFINANZ‘s strategy.
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For further information, please contact:
Investor Relations
David Greenbaum Moritz Mayer
Chief Financial Officer Manager, Capital Markets
[email protected] [email protected]
For more on CPI Property Group, visit our website: www.cpipg.com
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