IMMOFINANZ has taken a further step towards optimisation of its financial structure and completed a EUR 120 million long-term refinancing arrangement for the Vienna Twin Towers at myhive am Wienerberg. The loan agreement with UniCredit Bank Austria spans a term of 15 years.
“IMMOFINANZ didn’t only significantly strengthen its operational business and sustainable earnings power in 2019. We also reached some milestones in terms of financing. We began the year with receipt of an investment grade rating from S&P and issuance of a EUR 500 million benchmark bond and are ending it now with a very attractive refinancing with a maturity of 15 years. This is currently the real estate financing with the longest duration period within the company”, stated Stefan Schönauer, CFO of IMMOFINANZ. “This further improves our credit and maturity profile and underpins the attractiveness and development of our location myhive am Wienerberg.“
At the end of September 2019, IMMOFINANZ’s average financing costs were once again lower, at 1.95% including hedging costs. The net loan to value ratio stood at 44.2%, within the target range of around 45%. With a hedging quota of 87.5%, the company is well-protected against possible future interest rate increases.
About myhive am Wienerberg
With rentable space of around 150,000 sqm in total, myhive am Wienerberg is one of the largest office and business locations in the city, with optimal connections to the centre, the airport, the motorway and the public transport network. IMMOFINANZ has invested extensively in the location in recent years. In early autumn, the modernised hotel and office tower was opened, which with its new elegant facade establishes another landmark alongside the Twin Towers at Wienerberg. As well as offices, it is also home to the Holiday Inn Vienna - South.
myhive am Wienerberg provides the perfect combination for work-life balance for the tenants and the residents of Wienerberg: state-of-the-art office towers, a shopping mall, an attractive hotel offering and numerous entertainment options, including the most modern cinema in Austria and a recreation area with a lot of green space directly outside the office door.
Under the umbrella of IMMOFINANZ’s myhive international office brand, innovative office concepts are offered to address the needs of tenants. The offices have the benefit of numerous services, good infrastructure and an inviting warm atmosphere similar to the comfort of a hotel. Community managers organise regular networking events and community activities to promote social interaction among the tenants.
Further information can be found at https://myhive-offices.com/en/locations/am-wienerberg