Austria's Immofinanz Sells Stake in Business to MyPlace Self Storage

Austrias Imbea Immoeast Beteiligungsverwaltung GmbH, a subsidiary of Immofinanz AG, sold 30 percent of its stake in SelfStorage-Dein Lager Lagervermietungs GmbH to self-storage operator MyPlace Self Storage Holding GmbH for 34 million. The sell is expected to close by the end of July.

Austrias Imbea Immoeast Beteiligungsverwaltung GmbH, a subsidiary of Immofinanz AG, sold 30 percent of its stake in SelfStorage-Dein Lager Lagervermietungs GmbH to self-storage operator MyPlace Self Storage Holding GmbH for 34 million. The sell is expected to close by the end of July.

Immofinanz is selling its minority holdings or plans to develop these investments into majority interests, according toe CEO Eduard Zehetner.

Founded in 1990, Immofinanz Group is an Austrian finance property investor more than 1,800 properties worth approximately 9.2 billion.

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