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UBM share gives way: Immoprojekt in Vienna changes hands for millions

An empty office building in Vienna’s Kelsenstrasse changes hands for EUR 51.5 million.

The seller is a 50:50 joint venture between UBM and JPI, the buyer via a share deal is a project company of Soulier Real Estate.

Originally, UBM wanted to develop a hotel and office building on the 7,000 m2 complex, then, due to the corona, it withdrew from hotel projects in order to switch the strategy to “green. Smart. And more.” to align, as UBM announced today.

“This means that the transaction, like the sale of a project right next to the UBM headquarters to Buwog and a stake in a project in Muthgasse to the project partners Wiener St√§dtische and Signa, is part of a series of strategic divestments in Vienna,” said the in Vienna listed UBM. Managing Director Gerald Beck: “In this way, a successful win-win situation could be created for everyone involved.”

In Vienna, UBM shares temporarily fell by 0.92 percent to 43.10 euros.

stf / cgh

(WHAT)

Reference-www.finanzen.at

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