2024-07-26 22:55:03
It owns prominent skyscrapers and develops projects in many German cities: Now the real estate company Imfarr is insolvent.
The Austrian real estate project developer Imfarr is insolvent. The company has applied for a restructuring procedure without self-administration, the Austrian credit protection association KSV1870 announced.
The debts are said to amount to 604 million euros, affecting 110 creditors. A restructuring plan is now to be put in place to sell numerous properties. Last year, the company had already allowed its German project developer Development Partner to go bankrupt.
Imfarr is also very active in Germany. The company is involved in the major Leipzig project Eutritzscher Freiladebahnhof – the largest inner-city development project with thousands of apartments, daycare centers, schools, retail stores, offices and restaurants. According to the “Handelsblatt”, construction was supposed to start this year, but that has now been postponed.
Also in München Imfarr is said to have planned a project. The “Muc East” was to become a district with thousands of jobs. A new building project was also to be built near the Stachus, but this has been insolvent since February.
In addition, Imfarr owns prominent buildings in Germany such as the Silberturm in Frankfurt, which houses Deutsche Bahn, or the Munich Highlight Towers in Parkstadt Schwabing.