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Immofinanz determined to sell Russian portfolio by year-end

06 October 2017

RUSSIA Immofinanz has announced that it is in advanced talks with one bidder for its Russian retail properties – five shopping centres in Moscow.

However, the company has stated that key terms must still be finalised and that the overall process for the sale of the assets also includes other prospective buyers. “Our plans to complete the separation of our Russian portfolio by the end of 2017 currently remain unchanged,” states the announcement. In March this year the portfolio was valued at EUR 997 mln. In total Immofinanz has 240 properties worth around EUR 4.1 bln in eight European countries, with the others being Austria, Germany, the Czech Republic, Slovakia, Hungary, Romania and Poland.

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