“This sale is consistent with our focused portfolio strategy,” said Pavel Měchura, Member of the Executive Board of Immofinanz. “We continue to capture synergies and efficiency gains along with S Immo, which will ultimately benefit all stakeholders.”

Management and leasing of the property, which is 100% occupied and operates under the myhive brand, will continue to be carried out by Immofinanz. Because Immofinanz fully consolidates S Immo, the transaction will not have any impact on the Group’s financial position.