IMMOEAST AG sold WIPARK Garagen AG today to STPM Städtische Parkraummanagement GmbH and Parkraum Wien Management GmbH, two companies belonging to the municipal utility firm WIENER STADTWERKE. The buyer was the best bidder to emerge from the tendering process.

WIPARK Garagen AG – a subsidiary of IMMOAUSTRIA – is an Austrian garage owner and operator with 10,600 parking places at 30 locations in Vienna, Graz and Budapest.

The sale is part of the IMMOFINANZ Group’s new strategy of focusing on the office, retail, logistics and residential segments. At the same time, the sale makes a substantial contribution to the necessary stabilisation of liquidity in the IMMOFINANZ Group.

Confidentiality was agreed concerning the purchase price and other conditions of the transaction.

The acquisition is subject to approval by the competent competition authority.