IMMOFINANZ has sold the Grand Center Zagreb office property to a Croatian real estate company.
The Grand Center Zagreb, which was built in 2006, has an unmistakable architectonic design and appearance. It offers tenants around 16,000 square meters of usable space and is fully rented. It is BREEAM-certified.
This transaction represents a further step in the optimisation of the portfolio, says Radka Doehring, a member of the IMMOFINANZ Executive Board.
“The sale of this office property in Zagreb shows that we are also making very good progress in the optimisation of our portfolio in the current market environment. In line with our strategy and focus on value creation, the proceeds will be invested in the expansion of our innovative office solutions and retail properties in our core markets.”
CBRE South Eastern Europe (SEE) acted as the exclusive real estate sales advisor.
Uroš Grujić, Head of Investment for SEE, CBRE, says, “Thanks to the collective efforts of dedicated teams, we managed to deliver an attractive yield for Immofinanz, proving the resilience of premium office assets in central business district locations despite capital market turbulences occurring on a global level. This sale not only demonstrates strong investor confidence in the office segment but also shows a trend of local and regional groups using opportunities coming to the market to increase their footprint.”
