Immoeast Immobilien Anlagen AG

euro adhoc: Immoeast Immobilien Anlagen AG
Mergers - Acquisitions - Takeovers / IMMOEAST acquires 25 Percent of Real Estate Developer TriGranit

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IMMOEAST Immobilien Anlagen AG has invested in a 25 percent stake in TriGranit Holding Ltd., one of the leading real estate development companies in Central and Eastern Europe, and has therefore taken a strategically important step in the area of real estate development.

IMMOEAST has invested a total of approximately 400 million Euro in the transaction, which involves the largest investment to date in IMMOEAST’s company history. The TriGranit portfolio includes completed properties as well as numerous projects in various stages of completion, from planning to the building phase.

TriGranit is currently carrying out more than 30 development projects in eleven countries for a total project volume of approximately five billion euro in the areas of retail, office and housing. Lettable space totalling 3.3 million m² will emerge from these projects. TriGranit’s main markets are in Hungary, Poland, Czech Republic, Romania and Slovakia. There are additional projects in Bulgaria, Slovenia, Croatia, Ukraine, Serbia and Montenegro. In Russia first commitments are currently in preparation.

IMMOEAST Chairman Karl Petrikovics emphasises the strategic importance of the new investment: "We have invested for a fair price in an excellent portfolio which, in view of the quality of its projects, is unique in Central and Eastern Europe. Above all, we have invested in a company which for nearly a decade has proven it is able to successfully carry out extraordinary large-scale projects in various countries of Central Europe and is able to exploit them at high returns."

For IMMOEAST, as important as the stake in the existing portfolio is access to TriGranit’s numerous large-scale projects. For all projects IMMOEAST has a right of first opportunity, i.e. the opportunity to acquire completed properties before they are offered on the market. As a result, there can be excellent investment opportunities opened up to IMMOEAST in the next few years.

"With the properties IMMOEAST will be able to purchase in the future from TriGranit, the average returns will be higher than with other purchases of completed properties since as a result of our investment we have secured a 25 percent stake in the developer’s profits", explains Petrikovics, who anticipates that in the next few years IMMOEAST will make substantial investments in TriGranit projects.

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ots Originaltext: Immoeast Immobilien Anlagen AG
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Further inquiry note:
MMag. Dr. Karl Petrikovics
Chairman Immoeast
Immobilien Anlagen AG
phone: +43 1 532 87 60-0

Branche: Real Estate
ISIN:      AT0000642806
WKN:        A0BLUL
Index:    ATX Prime
Börsen:  Wiener Börse AG / official market

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