Vienna, 12 September 2016. conwert Immobilien Invest SE (conwert) intends to sell a large part of its remaining commercial property portfolio to an international group of investors. The sales price is likely to be around €335 mn, and thereby expected to be slightly above book value. The property portfolio consists of 36 office and retail properties in Austria and Germany with total usable space of approximately 207,000 sqm. Once the negotiations are successfully concluded, conwert will thereby sell around 40% of the non-core portfolio it currently holds.

The sale is subject to concluding due diligence and competition authority approval. The signing of the transaction is expected for the end of September 2016 after the successful conclusion of negotiations, with closing anticipated in the fourth quarter of 2016.

conwert Immobilien Invest SE published this content on 12 September 2016 and is solely responsible for the information contained herein.
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