Ad hoc Announcements

IMMOFINANZ Group sells Moscow logistics project Tomilino for USD 39 million

• Tomilino transaction yields considerable profit
• Moscow commitment very successful as a whole
• IMMOFINANZ Group achieves more than 110,000 sqm of new leases and lease extensions in the first quarter of 2010/11

IMMOFINANZ Group has sold the logistics property “Tomilino” to SBERBANK, the largest Russian bank, for USD 39 million. Tomilino is located in close proximity to one of the most important arterial roads, the Moscow Ring Road (MKAD) in the southeast of Moscow. The property was completed in September 2008 and has total space of 53,000 sqm. The parties agreed to keep any further details of the contract confidential. As a whole, the investment at Tomilino has generated a considerable profit for the IMMOFINANZ Group.

The Tomilino sale thus represents another chapter in the already very successful history of IMMOFINANZ investments in the Russian capital. Just a few months ago the shopping centre Golden Babylon Rostokino, with 170,000 sqm of lettable space one of the largest shopping centres in Europe, was completed and opened, while for considerable time the portfolio’s three long-time shopping centres, Golden Babylon I and II and 5th Avenue, have been virtually let in full on a continuous basis.

Numerous new leases and lease extensions in the first quarter of 2010/11
Currently an improvement in the rental situation can be observed, which is mainly attributed to the slight easing of the economic situation in IMMOFINANZ Group’s core markets – particularly in the German-speaking regions. A large number of new leases and lease extensions were agreed in the improved environment in the first quarter of the current business year. During this period new leases and lease extensions were concluded for 110,000 sqm.

Therefore, IMMOFINANZ CEO Eduard Zehetner is positive about the first quarter of the current business year: “It pays off for us to consistently focus on first-rate locations and top properties. They have suffered less from the crisis than the overall market and are also profiting from the recovery of the markets faster than properties of poorer quality or in weaker locations”.