Immofinanz sells City Tower Vienna for €150 mln

WSE-listed developer and investor Immofinanz has sold its City Tower Vienna to Euro Real Estate for over €150 million, marking the largest office segment transaction in Austria's real estate market in 2024. The fully leased building houses judicial institutions and demonstrates significant progress in Immofinanz's strategic sales program.

The sale achieved a price close to book value. The company plans to reinvest the proceeds in higher-yield commercial and office properties for added value. Immofinanz AG is listed both on the Warsaw Stock Exchange and the Vienna Stock Exchange.

Source: ISBnews