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Immofinanz closes EUR 48.4 million sale of Hilton Vienna Danube

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September 2
6:29 AM 2013

The Immofinanz Group announced that it had sold the Hilton Vienna Danube to a subsidiary firm of Internos Real Investors. The deal was worth EUR 48 million or USD 63 million. Immofinanz is a real estate company based in Austria while Internos Real Investors is based in Germany.

Immofinanz said the sale was part of their plan to exit their non-core hotel business. It also disclosed that the transaction was more than the hotel's carrying amount but gave no other details about the deal.

Immofinanz Group CEO Eduard Zehetner said, "We intend to withdraw completely from the hotel segment and are using the current attractive seller's market. Following the profitable sale of the Grand Hotel Kempinski in St. Moritz during February of this year, this latest transaction moves us close to our goal of ending our business in this asset class."

With the sale, Immofinanz now only has the Leonardo Vienna hotel left in its portfolio. After it gets renovated, Immofinanz said the hotel would also be up for sale.

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