Union Investment has purchased the Doppio Offices scheme in Vienna for around €20 mln from UBM Development.
The completed project, developed by UBM, comprises 8,000 m2 over ten storeys located in the Neu Marx urban development area.
'With its excellent quality and broad mix of tenants with high credit standings, the property is an excellent complement for our immofonds 1 real estate fund and a good signal to the market that we are driving forward our growth strategy for the fund with acquisitions in Austria and Germany,' said Kurt Rossmüller, managing director of Union Investment Real Estate Austria.
The office, which was built in 2012, is occupied by brands including Fielmann, Lidl, ÖWD and BM Tricon. UBM said that the sales proceed from the property totalled €19.5 mln.
'With the handover of Doppio Offices to Union Investment, we have succeeded in selling a property from our comprehensive portfolio,' commented Michael Wurzinger, chief operations officer of UBM Development. He added: 'The sales pipeline of UBM is very well filled until year-end 2016 and beyond.'
