Branicks Group AG Achieves Key Milestones in Financial Consolidation

Frankfurt am Main, August 8, 2024: Branicks Group AG has reported significant progress in its financial consolidation efforts. The company generated a cash inflow of approximately EUR 94 million from selling a portfolio of eight companies and nine properties to VIB Vermögen AG.

Strong operational development and successful letting business contributed to Branicks' robust financial performance in recent months. The cash inflow and development fees from the Global Tower project in Frankfurt have bolstered the company's finances. Branicks plans further debt reduction in the coming weeks.

The properties transferred to VIB, located in Baden-Württemberg, Hesse, and Hamburg, include multi-tenant offices with a total lettable area of 81,113 sqm, generating annualized rents of around EUR 16 million. This transfer aligns with Branicks' strategy to diversify and strengthen VIB's portfolio as part of Branicks Group.