Deka Immobilien has sold a retail property on Vienna's main shopping street to Warburg-Henderson KAG's Austian Fund II. The financial details were not disclosed.
Deka Immobilien has sold a retail property on Vienna's main shopping street to Warburg-Henderson KAG's Austian Fund II. The financial details were not disclosed.
The 10,400-m2 property is located in the vicinity of Vienna's Western train station and is fully leased to Intersport Eybl, one of Austria's largest sports retailer, with a 12-year contract.
The German open-ended fund manager bought the property in 2003 for its open-ended WestInvest ImmoValue fund. The sale is in line with the fund's refocus on the office sector, Deka said.
Separately, Deka said it has bought a retail centre in Nuremberg from LaSalle Investment Management's EUR 1 bn pan-European Euro Growth Fund II, for EUR 38 mln. Dating back to the 1970s, Röthenbach Center was expanded in 1986, and completely refurbished in the years 2007 to 2009. It offers 14,300 m2 of fully-let retail space.
The asset, which is anchored by retailer Edeka, is earmarked for the WestInvest TargetSelect Shopping fund.
