Friday, August 14, 2020
Home News Investment Market Acquisition of additional stake in AIRPORTCITY St. Petersburg completed

Acquisition of additional stake in AIRPORTCITY St. Petersburg completed

In May of this year, Warimpex Finanz-und Beteiligungs AG announced the acquisition of a 35 percent stake in the project company AO AVIELEN A.G. The seller of the shares is CA Immobilien Anlagen AG (CA Immo), which has completely pulled out of this project with the sale. All of the prerequisites for the closing – in particular the approval of the Russian antitrust authority – have now been satisfied, and the transaction was concluded on 12 August.

Warimpex now holds a stake of 90 percent in AVIELEN, the project company responsible for the development and operation of AIRPORTCITY St. Petersburg. The parties involved agreed not to disclose the price. An additional 10 per cent stake in AVIELEN is held by UBM Development AG.

“Warimpex is pursuing a strategy of building up its property portfolio and strengthening its earnings potential. By acquiring additional shares in AVIELEN, we are confirming our commitment to AIRPORTCITY St. Petersburg, an attractive location with tremendous potential for further developments,” explained Franz Jurkowitsch, CEO of Warimpex.

Most Popular

M7 acquires Katowice office building for new CEE fund

M7 Real Estate has undertaken its first acquisition on behalf of M7 CEREF II, its value-add opportunities fund focused on offices and...

Metropol Group acquires five shopping centres in Poland

Greenberg Traurig advised Metropol Group on the acquisition of a shopping centre portfolio, consisting of five regional convenience stores is located in...

Weerts Group to start new warehouse development near Budapest

The logistics sector of Hungary is booming with foreign investors continuing to be optimistic about the market outlook. The latest evidence of...

Panattoni sells two city logistics parks in Warsaw to LaSalle

Panattoni and Marvipol have sold two city logistics parks in Warsaw to LaSalle Investment Management. The facilities, totalling nearly 25,000 sqm, were...