02. Juli 2012 
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IVG reduces debt by €320 million
At the end of the second quarter of 2012, IVG Immobilien AG reduced its existing property financing for the Allianz portfolio (“CORE” financing) from the previous level of €904 million to €584 million.
According to IVG, the partial repayment of the loan in the amount of €320 million was ensured by way of funds of €315 million from the announced sale of two properties in Unterföhring near Munich and a scheduled repayment in the amount of €5 million. The properties were sold to the IVG EuroSelect 21 Munich closed-end fund.
The further monetisation of assets will lead to a reduction in IVG Immobilien AG’s liabilities to banks of around €1.3 billion or 30% by the end of 2014, of which €550 million will already be repaid in 2012. In addition to the partial repayment of the CORE financing, this will be achieved in particular through the handover of seven completed caverns to the IVG Cavern Fund in late July 2012, as well as further scheduled repayments.
According to IVG, the partial repayment of the loan in the amount of €320 million was ensured by way of funds of €315 million from the announced sale of two properties in Unterföhring near Munich and a scheduled repayment in the amount of €5 million. The properties were sold to the IVG EuroSelect 21 Munich closed-end fund.
The further monetisation of assets will lead to a reduction in IVG Immobilien AG’s liabilities to banks of around €1.3 billion or 30% by the end of 2014, of which €550 million will already be repaid in 2012. In addition to the partial repayment of the CORE financing, this will be achieved in particular through the handover of seven completed caverns to the IVG Cavern Fund in late July 2012, as well as further scheduled repayments.
