VIENNA, April 8 Austrian property group
Immofinanz has sold a portfolio of 35 residential
properties in the southern state of Carinthia to non-profit
development company OSW, it said on Monday.
Immofinanz said the sale of the 781 apartments, which were
part of its Buwog unit, was a step in the concentration of its
Buwog portfolio on Berlin and Vienna in preparation for a
separate listing of Buwog.
"The sale of portfolios in Austria is generating the liquid
funds required for our expansion on the promising German
residential market, for example in Berlin," said Daniel Riedl,
Immofinanz COO and chairman of the BUWOG supervisory board.
It did not disclose the sale price but said it exceeded the
(Reporting by Georgina Prodhan; Editing by Michael Shields)