ADVERTISEMENT

Immofinanz finalizes portfolio sale to Blackstone

Deals

pixabay

Immofinanz successfully finalized the sale of its logistics portfolio to Blackstone, which is integrating all its assets into its European logistics platform Logicor, according to a press release issued yesterday.

Blackstone bought the portfolio, which was valued at €536 million, less €28 mln for the cost of realizing three projects valued at €305 mln, after the repayment of relevant loans. Some €245 mln was transferred immediately, while the remainder of the purchase price will be transferred in October.

Blackstone acquired all 36 of Immofinanzʼs logistics investments through the purchase: approximately 1 million sqm, in Germany (24), Hungary (5), Romania (3), Poland (2), Slovakia (1) and Russia (1).

“The sale of the logistics portfolio represents an important step to further simplify and optmimize our portfolio structure and strengthen the focus on our core experties in the retail and office segments,” Immofinaz CEO Oliver Schumy said.

ADVERTISEMENT

Fiscal, monetary policy partnership needed to rein in CPI - ... Analysis

Fiscal, monetary policy partnership needed to rein in CPI - ...

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.