Immofinanz has sold an apartment building in Vienna to an institutional investor for more than €33m.
The building, located on shopping street Mariahilfer Strasse, has 4,000 m² of retail let to a textile chain, as well as office and residential space.
Immofinanz Group executive board member Daniel Riedl said: “The building at Mariahilfer Strasse 53 has been in our portfolio for over 10 years and on our ‘to sell’ list for some time, because our activities in the retail segment are concentrated on Quality Shopping Centers and our STOP.SHOP. retail park chain. Apartment buildings are frequently used as selling space, especially in the inner city of Vienna, and – as this transaction shows – have also become increasingly popular with institutional investors. We are pleased to have again received an attractive price for one of our properties in this favourable market environment.”
Immofinanz began a five-year asset sale programme in the 2010/11 financial year designed to raise €2.5bn.
