German fund manager Real I.S. has announced the acquisition of the fully-let Wien Westbahnhof A3 commercial asset on behalf of a new special investment fund backed by three German pension funds.
The 25,000-m2 asset was bought in a €110 mln share deal from the shareholders of Acron Wien West A3, a single-asset company owned by the Zurich-based Acron Group.
The mixed-use property is part of the Bahnhofcity Wien West complex and is centrally situated in Vienna's 15th district, Rudolfsheim-Fünfhaus, to the west of Vienna’s old town district. It offers 8,870 m2 of shopping centre space on the ground floor and basement levels, forming part of the Bahnhofcity Wien West Shopping Centre that runs through all three of the rail station complex’s buildings.
A 441-room hotel, operated by Motel One, occupies nearly 10,780 m2 on the building’s first five above-ground floors. A number of office units, totalling 5,360 m2, are located on floors six and seven.
'This club deal allows us, once again, to demonstrate our expertise in creating structured investment solutions for our institutional investors,' said Jochen Schenk, CEO of Real I. S.
'As a key component of the Bahnhofcity Wien West rail station complex, this commercial property benefits from outstanding transport links. What’s more, the building’s multi-tenant structure is broadly diversified across three different asset classes,' added Schenk.
Real I. S. was advised throughout the transaction by the auditing and tax consultancy firm Mazars and the law firm Eversheds Sutherland.
