IMMOFINANZ Group signs anchor tenant for Panta Rhei office development project

IMMOFINANZ AG / Key word(s): Real Estate

09.08.2012 / 11:05

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Two months after the start of construction, the Austrian IMMOFINANZ Group
has leased the first space at its Panta Rhei development project in
Germany. With approx. 2,000 sqm, the new anchor tenant has already secured
over 20% of the rentable space in this spectacular office project at
Düsseldorf Airport. IMMOFINANZ Group took over the project in full during
April of this year, presented it to the public at the end of May and
started construction in early June - without pre-rentals. The new tenant
has asked not to be named at the present time.

'We decided not to wait for pre-rentals because we were convinced by the
unusual architecture of the Panta Rhei and its location at the center of
the Airport City. This proved to be the right decision: immediately after
the speculative start, we signed the first tenant', explained Eduard
Zehetner, Chairman of the Executive Board of IMMOFINANZ Group. 'Panta Rhei
is our first own development project in Germany, but certainly not our
last. Declining vacancies and exciting projects make the Düsseldorf office
market very interesting. This property is an excellent example of the
steady and profitable realisation of our real estate machine concept in one
of the currently most popular property markets in Europe.'

With its undulating exterior facade, the building's exciting architecture
was inspired by the Rhine River and creates a high recognition value. The
third largest airport in Germany and a hub for intercontinental connections
is only a short walk away, and the Düsseldorf city center can be reached in
ten minutes - additional features that speak for this well-designed
concept. The office building also has first-rate infrastructure with a wide
range of shopping alternatives and a diverse gastronomy offering on 365
days a year.

Preparations are currently underway to obtain LEED certification for the
Panta Rhei. This will underscore the project's commitment to sustainability
and tenant comfort - with a parallel focus on the optimisation of operating
costs: modern heating and cooling systems, individual room controls and
exterior sun protection will help to maximise energy and cost efficiency.
The state-of-the-art technology in the Panta Rhei is rounded out by the
highest construction standards, top-quality materials and intelligent
building equipment.

Live Webcam pictures that show the current status of construction can be
found under: http://www.pantarhei.de/en/gallery


On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property companies in Europe
and is included in the leading ATX index of the Vienna Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio that now comprises more than 1,820 investment properties
with a carrying amount of approx. EUR 10.36 billion. The core business of
IMMOFINANZ Group covers the acquisition and management of investment
properties, the realisation of development projects and the sale of
objects. IMMOFINANZ Group concentrates its activities in the retail,
office, logistics and residential segments of eight regional core markets:
Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and
Russia. Further information under: www.immofinanz.com.


Contact:
For additional information contact:

INVESTOR RELATIONS

Stefan Schönauer
Head of Corporate Finance & Investor Relations 
IMMOFINANZ AG
M +43 (0)699 1685 7312
investor@immofinanz.com 

Simone Korbelius
Investor Relations
IMMOFINANZ AG
T +43 (0)5 7111 2291
investor@immofinanz.com 

MEDIA INQUIRIES

Sandra Bauer
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ AG
T +43 (0)5 7111 2292
M +43 (0)699 1685 7292
communications@immofinanz.com 

A-1100 Wien, Wienerbergstraße 11
www.immofinanz.com


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Language:    English                                                    
Company:     IMMOFINANZ AG                                              
             Wienerbergstraße 11                                        
             1100 Wien                                                  
             Austria                                                    
Phone:       +43 (0) 5 7111 - 2291                                      
Fax:         +43 (0) 5 7111 - 8291                                      
E-mail:      investor@immofinanz.com                                    
Internet:    http://www.immofinanz.com                                  
ISIN:        AT0000809058                                               
WKN:         911064                                                     
Listed:      Freiverkehr in Berlin, München, Stuttgart; Open Market in  
             Frankfurt; Wien (Amtlicher Handel / Official Market)       
 
 
End of News    DGAP News-Service  
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