German asset and investment manager KGAL has acquired the Skyline office complex in Vienna from an unnamed open-ended fund.
The transaction volume for the 15,800 m2 office complex was not disclosed. The property, which also includes 265 parking spaces, is located in the 19th municipal district of the city, besides the Wien Spittelau railway station.
'We are delighted about the success of this transaction, which enables us to continue our positive investment story within the Austrian market,' commented André Zücker, managing director for real estate at KGAL. 'Our strong market presence in Austria, where we now have more than 440,000 m2 of commercial property, was crucial in succeeding in acquiring the property.'
The multi-tenant property, completed in 2008, consists of three connected office buildings, restaurants and a gym built in the historical railway arches that have been integrated into the property. Tenants include TUI Österreich, Symrise, a car park operating company and CrossZone Functional Fitness.
KGAL said that Skyline would be held in an internationally aligned fund, for which the deal represents its first office investment in Vienna.
Savills fund management Frankfurt acted as agent on the sale on behalf of the vendor.
