Morgan Stanley Real Estate Investing (MSREI) has led the consortium acquisition of Wien Mitte, a 95,000 m2 office and retail complex in central Vienna.
Morgan Stanley Real Estate Investing (MSREI) has led the consortium acquisition of Wien Mitte, a 95,000 m2 office and retail complex in central Vienna.
The financial terms of the transaction, which is expected to close this year, were not disclosed.
Wien Mitte includes a 33,000 m2 shopping centre and 62,000 m2 of office space. The asset is located on one of Vienna’s primary mass transit hubs serving two subway lines, seven rapid transit lines, the city exit of the airport metro, as well as a tram line.
The office component is leased to a variety of tenants, including the Austrian government, Mondi, and the Vienna Tourist Board; retail anchors include Interspar, H&M, Müller, and Media Markt.
´This was a rare opportunity to control a sizeable core property with some of the best retail and office space in central Vienna, consistent with our strategy of buying high-quality properties with the potential to improve underlying performance through asset management and create value for our partners,´ said Brian Niles, head of MSREI Europe.
