Union Investment has sold the Doppio Offices asset in Vienna to an Austrian holding company.
The building at Rinnböckstrasse 3 had been part of the portfolio of the open-ended mutual property fund, immofonds 1, which has been marketed exclusively in Austria, since 2016. The parties have agreed not to disclose the sales price.
Alejandro Obermeyer, head of investment management DACH at Union Investment, said: “The office property generated stable income for the fund during the eight years it was held. We want to slightly reduce the office ratio in our portfolio and have therefore sold the property for strategic reasons.”
The office building, which was completed in 2012, is located in the 3rd district near Vienna’s city centre and has a rental area of around 8,000sqm spread over eight upper floors and two basement floors as well as 76 parking spaces. There are direct connections to numerous public transport options such as the underground, tram and bus as well as to the A4 motorway to the airport and the A23 south-east ring road.
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