Züblin: Real estate sale is completed
Züblin Immobilien Holding completed the sale of its German real estate portfolio on August 21, 2017.
In mid-June, Züblin Immobilien Holding announced the followingthat it would sell its twelve properties in Germany to the British real estate company CLS Holding. The transaction was completed on August 21, 2017.
The sale comprises all properties in the German portfolio with an underlying gross asset value of EUR 152 million (CHF 173.2 million). Eleven properties were sold as part of a share deal and one property was sold directly. Züblin received a total of EUR 56 million (CHF 63.8 million) from the transaction.
As Dr. Iosif Bakaleynik, Chairman of the Board of Directors and CEO, says, the company was able to realize the added value potential of the German portfolio with the sale. The inflow of funds is to be reinvested.
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