trending Market Intelligence /marketintelligence/en/news-insights/trending/q9qpDFURO4njhy2VcYLKMw2 content esgSubNav
In This List

IMMOFINANZ completes exit from Russian market

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


IMMOFINANZ completes exit from Russian market

IMMOFINANZ AG completed the sale of its retail portfolio in Moscow to the Russian FORT Group, marking its exit from the country.

CEO Oliver Schumy said in a release that following the sale, the company's office and retail asset classes are now focused on the western European markets of Germany and Austria, as well as central and eastern Europe.

The transaction generated immediate net cash flows of 5.00 billion rubles. The deal also includes a further guaranteed payment of €14.5 million in January 2022 and an earn-out of as much as 9.00 billion rubles, also due in 2022.

As of Dec. 6, US$1 was equivalent to 59.13 Russian rubles.