Austria’s Immoeast Exits Bulgarian REIT Prime Property – Media

Immoeast has sold its stake to local companies Delta Food and Global Tours, Dnevnik (www.dnevnik.bg) quoted unnamed sources as saying. It did not elaborate.

Prime Property’s shareholders also include IBM Personal Pension Plan Trust, Honda US Companies Master Retirement Group and Bulgarian insurer Bulstrad, part of Austrian insurance group Wiener Staedtische.

In September, media reported that Immoeast plans to dispose of assets in EU member Romania to reduce dependence on that market. The Vienna-based company said in its annual report that no market in the CEE and SEE regions has been hit harder by the crisis than Romania.

Immoeast is a unit of real estate group Immofinanz, in charge of the group's central and eastern European operations.