Published: March 18, 2010
Austrian real estate investor Sparkassen Immobilien is selling assets in developed markets to free up cash for deals in emerging Europe. Director Holger Schmidtmayr tells Tim Burke about its plans.
Late last year, one property transaction in the Czech Republic doubled the size of the country’s annual deal flow overnight. Austrian property investor Sparkassen Immobilien sold Gemini, an office block, to German property fund Deka Immobilien for €110mn. It was the firm’s biggest sale yet and one of the biggest property deals in Central and Eastern Europe in 2009.