Conren Land pays Commerz Real €55m for 17,000sqm Vienna office building
A core-plus fund managed by Conren Land has acquired the 17,000sqm Optimum office building in Vienna from Commerz Real for €55m.
The building, at Dresdner Straße 81-85 / Traisengasse 1, has been in the Commerz Real open-ended real estate fund HausInvest since its completion in 2000.
The nine-storey building is nearly 90% let.
Henning Koch, global head of transactions at Commerz Real, said: “With the sale we have been able to utilise the current attractive market situation for sales to the benefit of our investors and at the same time save the fund foreseeable modernisation costs.”