S Immo, a German-listed property company controlled by Immofinanz, has acquired The Vienna Twin Towers from its parent.
Reports place the deal in the range of €194 mln.
Commenting on the sale, Pavel Mechura, member of the Executive Board of Immofinanz, said: 'We continue to capture synergies and efficiency gains along with S Immo, which will ultimately benefit all stakeholders.'
Management and leasing of the property, which is 100% occupied and operates under the innovative myhive brand, will continue to be carried out by Immofinanz.
The asset's two towers are 126 and 138 metres high respectively, interconnected with numerous glass bridges, and house 50,000 m2 of office space, plus a multiplex cinema, shops and eateries in the basement. The building was designed by Italian architect Massimiliano Fuksas.
As Immofinanz fully controls S Immo, the transaction will not have any impact on the group’s financial position.
The deal follows a number of transactions between the two firms with a view to balancing S Immo's earnings and cash flow.
