Successful sales in Germany
Only recently, S IMMO AG announced its intention to dispose of German residential properties in the course of a strategy update. Now the first sales successes can already be reported: Larger portfolios have been sold in both Rostock and Leipzig.
The company's sold Rostock portfolio comprises a total of 17 properties. Additionally, two properties in Berlin were also disposed of. The properties are apartment buildings as well as residential and commercial buildings in very good city centre locations. In total, the sale includes 210 residential and 26 commercial units with a total rental area of over 16,000 m². In Leipzig, a total of 32 residential properties with over 450 residential and almost 50 commercial units and a total rental area of over 37,000 m² were sold. In both cases, the parties agreed not to disclose the purchase price.
Herwig Teufelsdorfer, Member of the Management Board of S IMMO AG, comments: "Our strategy of selling German residential properties and acquiring higher-yielding office properties in Hungary and Austria in return has reached an important milestone today. With these sales, we are realising the value developments of recent years and gaining liquidity for further acquisitions. This will strengthen our profitability permanently and sustainably – also in the interest of our shareholders."