The purchase price of the stake was approximately EUR604 million.
In financial year 2015/2016, Immofinanz’s rental income in Romania totaled EUR45.1 million, accounting for 14.3% of the group’s total rental income. Immofinanz’s portfolio in Romania makes up 15% of the company’s total portfolio and includes 76 finalized properties with a total value of EUR852.5 million. The value estimated after the completion of the group’s projects in Romania is EUR106.6 million.
On a group level, Immofinanz reported losses of EUR390 million in financial year 2015-2016, due to a 18% drop in rental income to EUR314.5 million. The decrease was mainly caused by the foreign exchange-adjusted valuation of the Russian portfolio.