German property investor Deka Immobilien has acquired the Austro Tower office tower development in Vienna from developer Soravia.
The parties agreed to keep the purchase price confidential.
After completion in late 2021, the property will be added to the portfolio of the newly-launched Deka-Immobilien Fokus Büro Wien closed-end fund, which is managed in collaboration with Institutional Investment Partners (2IP) and is invested by a number of pension funds.
Located in the Erdberg office submarket in Vienna's third district, the complex will provide a total of 32,000 m2 and has already been pre-let on a long term basis to two public tenants, Asfinag and the Austrian civil aviation company Austro Control, occupying around 85% of the space.
