CA Immo divests logistics property in Berlin and office asset in Vienna

CA Immo has successfully sold a logistics property in Berlin's Marienfelde district for a price exceeding its book value. 

Keegan Viscius 

The property includes a 53,000 m2 site with a 12,000 m2 warehouse, currently 92% leased and generating €1.2 mln in annual rental income. 
This sale aligns with CA Immo's strategy to concentrate on prime, modern office assets in urban centers. The company is divesting non-core assets based on asset class, location, earnings, or value creation potential. 
Keegan Viscius, CEO of CA Immo, commented: "In addition to the positive financial result from selling at a premium to book value, we will improve our underlying portfolio quality and sustainability, given the age of the asset and the fact that it was the last remaining property to be powered by non-renewable oil as an energy source. The proceeds from the sale may be used in a number of ways, including general corporate purposes, accretive investment in our prime portfolio, repayment of debt, buyback of shares, and external investment should attractive opportunities arise."
Cushman & Wakefield and GÖRG advised on the transaction.
Separately, CA Immo also sold an office building in Vienna's 15th district to a local investor and developer. 
The building benefits from excellent connectivity to public transport and road networks, providing easy access to transport hubs, shopping facilities, and the city center. 
This sale is part of CA Immo's long-term strategy to focus on large, high-quality Class A office properties in prime inner-city locations. Similar to the Berlin sale, the company is divesting assets that do not align with its core business based on factors like asset class, location, building quality, and value creation potential. 
CEO Keegan Viscius added: “With this sale, we free up capital for alternative allocation options, and monetise future profits where only limited further value creation exists under our business model. The proceeds from sale may be used in a number of ways, including general corporate purposes, accretive investment in our prime portfolio, repayment of debt, buyback of shares, and external investment should attractive opportunities arise.”
CBRE acted as the commercial advisor for this sale.