Austrian real estate investment company Immofinanz has reduced the value of its portfolio in Romania to EUR 907 million, at the end of October, from EUR 952 million in July this year.

The company sold its local logistic projects to the US company Logicor, which determined the asset value decline.

Immofinanz earned EUR 22.2 million from rents in Romania in the first nine months of the financial year 2015-2016, which represented 14.2% of the investor’s total income.

The properties owned by Immofinanz in Romania represent 14.6% of the company’s portfolio, which is estimated at over EUR 6.2 billion.

The company’s operating profit amounted to EUR 34.8 million.

editor@romania-insider.com