Commerz Real, which was created by the recent merger of Commerz Grundbesitz Gruppe and Commerzleasing, has acquired six office properties in Vienna's TownTown urban development project for EUR 97 mln. The properties are earmarked for Commerz Real’s open-end public property fund, Hausinvest Europa.

Commerz Real, which was created by the recent merger of Commerz Grundbesitz Gruppe and Commerzleasing, has acquired six office properties in Vienna's TownTown urban development project for EUR 97 mln. The properties are earmarked for Commerz Real’s open-end public property fund, Hausinvest Europa.

'The first acquisition and preliminary negotiations were conducted by CLI. During the later process stages, CGG and CLI joined forces and successfully completed the acquisition,' Hans-Joachim Kühl, a member of Commerz Real's board said. The deed for the properties, with a gross lettable area of 41,000 m2, was signed last week in Vienna.