S Immo successfully concluded the disposal of the Eurocenter office building in Zagreb, Croatia. In addition to offices, the Eurocenter also includes a bank branch and a café and has a gross lettable area of around 9,000 sqm. The transaction of the centrally located and well communicated mixed use office building with an asset value of €26.5 million to buyer Atlantic Grupa d.d. was carried out by way of a share deal.
Through the sale, S Immo makes use of the positive momentum on the Zagreb market due to Croatia’s entry into the Euro-zone earlier this year and the favourable timing concerning the life cycle of the property, which is fully let and technically well-maintained. Herwig Teufelsdorfer, Member of the Management Board, comments: “We are pleased to announce the successful sale of the Eurocenter. The transaction is in line with our adjusted strategy and generates liquidity for investments in other core markets of S Immo.”