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Immofinanz sells real estate worth 1 billion euros

Immofinanz sells real estate worth 1 billion euros

Stock-listed real estate group Immofinanz, currently majority-owned by Czech billionaire Radovan Vitek’s CPI Property, wants to grow “value creation” in the retail and office sector and restructure its portfolio: the company wants to sell properties of around €1 billion and invest the proceeds in assets with High yields or debt repayment, reported on Friday’s broadcast.

The planned acquisitions will include CPI Property Group properties that fit this strategy. According to its own data, Immofinanz has real estate assets of about 5.2 billion euros, distributed over more than 220 properties.

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