Vienna, 28.6.2024 – UBM Development has sold its 80% interest in W3 Errichtungs- und Betriebs-Aktien-Gesellschaft to RALT Raiffeisen-Leasing GmbH & Co KG.
UBM Development completed another successful sale from its standing asset portfolio at the end of the second quarter in 2024. Specifically, its 80% interest in W3 Errichtungs- und Betriebs-Aktien-Gesellschaft was sold for roughly €30m to RALT Raiffeisen-Leasing GmbH & Co KG. Raiffeisenbank International holds 20% of the shares. The closing took place on 27 June 2024 in the form of a share deal.
“With the W3, we are selling a further non-strategic asset to one of our partners. This is a win-win situation that generates cash for UBM – in line with our strategy to give liquidity priority over profitability during the current financial year“, explained Thomas G. Winkler, CEO of UBM Development AG.
The property is the site of the “W3 – Center Wien Mitte“ which opened in 2000. It houses well-known tenants like the offices of the Raiffeisen banking group, Thalia booksellers, and the Cineplexx Village Cinema. The Center includes approximately 9,200 square metres of office space, 5,900 square metres of commercial space, 4,730 square metres for the cinema and 136 parking spaces. RALT (Raiffeisen Leasing GmbH) has leased the entire office area. Rental income totalled approximately €5m in 2023.
UBM Development is one of Europe´s leading developers of timber construction projects. The strategic focus is on green building and smart office in major cities like Vienna, Berlin, Munich, Frankfurt and Prague. A Platinum rating from EcoVadis and Prime Status from ISS ESG confirm the consequent focus on sustainability. With 150 years of experience, UBM offers all development services from a single source, from planning to marketing. The shares are listed on the Prime Market of the Vienna Stock Exchange, the segment with the highest transparency requirements.
For additional information contact:
Christoph Rainer
Head of Investor Relations & ESG
UBM Development AG
Mob.: + 43 664 80 1873 200
E-Mail: christoph.rainer@ubm-development.com
Johannes Stühlinger
Head of Communications
UBM Development AG
Mob: +43 66 48 01 87 31 84
E-Mail: johannes.stuehlinger@ubm-development.com
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