S IMMO AG sells Eurocenter in Zagreb

Corporate news

S IMMO AG successfully concluded the disposal of the Eurocenter office building in Zagreb, Croatia. In addition to offices, the Eurocenter also includes a bank branch and a café and has a gross lettable area of around 9,000 m². The transaction of the centrally located and well communicated mixed use office building with an asset value of EUR 26.5m to buyer Atlantic Grupa d.d. was carried out by way of a share deal.

Through the sale, S IMMO makes use of the positive momentum on the Zagreb market due to Croatia’s entry into the Euro-zone earlier this year and the favourable timing concerning the life cycle of the property, which is fully let and technically well-maintained. Herwig Teufelsdorfer, Member of the Management Board, comments: “We are pleased to announce the successful sale of the Eurocenter. The transaction is in line with our adjusted strategy and generates liquidity for investments in other core markets of S IMMO."