ECO Business-Immobilien AG

EANS-Adhoc: ECO Business-Immobilien AG sells Opernringhof in Vienna for EUR 101 million

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ECO Business-Immobilien AG sells Opernringhof in Vienna for EUR 101 million

Vienna, 14 June 2010. ECO Business-Immobilien AG (Vienna Stock Exchange / Prime Market: ECO) announces the upcoming sale of the Opernringhof (Opernring 1, 3-5) in the first district of Vienna for EUR 101 million. The object will be sold to an Austrian private investor for a price significantly above the current carrying value and nearly 19% over the total investment cost.

This office and commercial property has approx. 17,400 m² of rentable space (incl. garage) and is located at one of the best sites in Vienna directly opposite the State Opera House. ECO acquired the object in 2005 in connection with the Allianz portfolio transaction. Over the past five years the company has successively improved the structure and thereby optimised the tenant mix. The current tenants include numerous airlines, embassies, investment banks and consulting firms.

A special success story Wolfgang Gössweiner, speaker of the Management Board of ECO Business-Immobilien AG commented, "This sale reflects our announced value creation strategy, which calls for the profitable sale of individual properties. Depending on the market environment and available opportunities, we will use the equity generated by this transaction for reinvestment and/or distributions to our shareholders."

The transaction is scheduled to close during the second quarter of 2010.

end of announcement                               euro adhoc

Further inquiry note:

ECO Business-Immobilien AG
Wolfgang Gössweiner, CFO
Tel.: +43(1)580 88 0

Peter Pechar
Head of Investor Relations
Tel.: +43(1)580 88 35

Metrum Communications
Roland Mayrl
Tel.: +43(1) 504 69 87-331

Branche: Real Estate
ISIN: AT0000617907
Index: Prime Market
Börsen: Wien / Regulated free trade

Original-Content von: ECO Business-Immobilien AG, übermittelt durch news aktuell

Weitere Meldungen: ECO Business-Immobilien AG

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