CA Immo successfully sells an office property in Vienna
Sale of an office building in Vienna´s 12th district in line with strategic capital rotation programme
Vienna, December 14 2021. CA Immo continues its path of selling non-core property assets with the successful signing of a sales contract for Wolfganggasse 58-60 office building (20,300 sqm) in Vienna. The sale has closed at a significant premium to the book value as at 31 December 2020.
Keegan Viscius, Chief Investment Officer of CA Immo: “With this further profitable sale we continue our strategic capital rotation program where we seek to profitably divest assets with no strategic fit in our long term portfolio. The overriding goal is to sharpen the focus on large, modern office properties in prime locations in our core cities, thereby sustainably increasing portfolio quality and management efficiency. The proceeds of these sales will be reinvested into value accretive investments in core premium office properties, including continued build out of our prime development pipeline in Germany as well as external property acquisitions.”
Hedwig Höfler, Head of Investment Management AT & CEE: “With the sale of the property in Wolfganggasse, we have further optimized our focus on large, modern Class A office properties in established and promising office locations. This disposal at a significant premium to book value confirms our valuations in a still uncertain market environment.”
Images of the office building at Wolfganggasse 58-60 can be downloaded via this link.