conwert Immobilien Invest will be selling a large part of its remaining commercial property portfolio to an international group of investors. The sale price is likely to be around €335 m, and therefore expected to be slightly above book value. The property portfolio consists of 36 office and retail properties in Austria and Germany with a total usable space of approximately 207,000 sqm. Once the negotiations are successfully concluded, conwert will sell around 40 percent of the non-core portfolio it currently holds. The signing of the transaction is expected at the end of September 2016. The German property portfolio includes office and retail propertis in cities such as Berlin, Leipzig, Nürnberg, Dresden and others.
