Immigon

Immigon is a structured wind-down entity created to monetize the non-performing and non-core assets of Österreichische Volksbanken AG. Its sole mandate is orderly liquidation and return of capital to shareholders — the Republic of Austria, Volksbanken Holding, and DZ Bank. The firm is expected to dissolve once all assets are sold, with no ongoing investment mandate.

Immigon's remaining material assets are concentrated in commercial real estate in Bucharest, Romania — specifically the Premium Plaza and Premium Point office buildings. The firm also manages a residual liquid securities book in Vienna. The original portfolio included broader CEE commercial leasing exposure, but the Romanian properties are now the flagship positions.

Immigon operates as a standalone Austrian corporation with a Supervisory Board chaired by Eva Eberhartinger. It is supervised by Austria's Financial Market Authority (FMA) as a resolution entity. Day-to-day asset management was previously led by CEO Stephan Koren, with the current team focused purely on loan workouts, property management, and cash distributions.

Yes, Immigon's liquidation mandate means it is a motivated seller. Its real estate assets in Romania have been marketed in competitive processes typical of CEE office disposals. Direct portfolio transactions or individual property sales to institutional investors, local developers, or real estate funds are the expected exit routes.

No. Immigon is an asset-owner structured as a bad bank (Abbaueinheit) under Austrian banking resolution law. It does not raise external capital, make new investments, or operate as a family office. It functions as a self-liquidating special-purpose vehicle with a fixed shareholder register and regulatory timeline.