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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Ing Clarion Real Est Income | NYSE:IIA | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From Jul 2019 to Jul 2024
By Neetha Mahadevan
Austria's Immofinanz AG's (IIA.VI) Buwog unit is buying about 892 million euros ($1.21 billion) of residential property from Solaia Real Estate--a joint venture between an investment fund of Deutsche Bank AG (DBK.XE) and Prelios SpA (PRS.MI).
Immofinanz will spinoff Buwog on the Frankfurt exchange, it confirmed late Wednesday.
"This transaction paves the way for the...resulting separation of the residential properties in Germany and Austria from the commercial portfolio of Immofinanz Group," Immofinanz Chief Executive Eduard Zehetner said.
The deal--expected to close in the second quarter--will be executed through share deals and is subject to antitrust approval.
The Solaia purchase increases by 18,000 units Buwog's residential properties to about 54,000 units with a gross asset value of 3.49 billion euros.
Solaia is 60% owned by the Deutsche Bank fund.
-Eyk Henning and Isabel Gomez contributed to the article
Write to Neetha Mahadevan at neetha.mahadevan@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Ing Clarion Real Est Income Chart |
1 Month Ing Clarion Real Est Income Chart |
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