CA Immo has successfully sold the approx. 270,000 sqm property of the former gravel pit in Feldkirchen with a significant premium on the last book value. CA Immo had backfilled the former gravel pit, thereby creating the basis for the development and construction of the area. The municipality of Feldkirchen in Bavaria plans to carry out a development plan procedure for the property.

“The successful sale of the property in Feldkirchen is consistent with our strategy of consistently disposing of assets that are not part of our core business. We are focusing our portfolio on high-quality Class A office properties in central locations in our core markets,” explains Hedwig Höfler, Group Head of Investment Management at CA Immo.