Immofinanz offloads building at BB Centrum

Immofinanz Group sold building C at BB Centrum to the VIG fund for an undisclosed price. BB Centrum, an office complex developed by PasserInvest in Prague 4-Michle, includes 10 office buildings, three of which are still owned by Immofinanz: A, B, and Gamma.
“Cycle-optimized sales ensure that an adequate amount of equity is available for the continuous improvement of our development pipeline. The same applies to the sale of BB Centrum Building C,” said Immofinanz’s COO, Manfred Wiltschnigg. “From a strategic perspective, the transaction will result in a more even distribution of our office property portfolio in Prague and thus constitutes an important step in its continued optimisation. The sale is also part of the successful implementation of our sales strategy.” The transaction is part of a five-year, €2.5bn sales program aimed at improving Immofinanz’s existing property portfolio and increasing its turnover rate.