Letter of Intent for purchase of office buildings in Vienna signed
Today S IMMO AG has signed a Letter of Intent with IMMOFINANZ AG regarding the potential acquisition of office buildings at Wienerberg, Vienna. If implemented in full, the purchase would comprise a total of up to 6 standing properties (including the Twin Towers) with roughly 128,000 m² and one development project with roughly 20,000 m². The investment volume would add up to roughly EUR 411m and lead to a significant increase in annual rental income.
The potential purchase is in line with the strategy of disposing of the German residential portfolio and reinvesting proceeds in office properties in CEE and Austria.