Union Investment Real Estate has acquired the fully-let Euro Plaza 4 office building in Vienna as the company continues to invest in core markets in Europe. The property was purchased on behalf of UniImmo: Deutschland open-ended real estate fund for EUR 150 mln.
Union Investment Real Estate has acquired the fully-let Euro Plaza 4 office building in Vienna as the company continues to invest in core markets in Europe. The property was purchased on behalf of UniImmo: Deutschland open-ended real estate fund for EUR 150 mln.
The vendor is Austrian firm Kapsch Immobilien GmbH, which was represented by Strauss & Partner Development. CBRE advised Union Investment on the deal.
Completed in 2008 and consisting of a five-storey and an eight-storey section, the building offers some 48,500 m2 of rental space let long-term. The list of 24 tenants include Kapsch TrafficCom, Coca-Cola, Merck Sharp & Dohme, Nestlé and Boehringer Ingelheim.
The property received DGNB Gold certification for its sustainable construction and is located in the established Wienerberg office submarket south of Vienna city centre. It features 520 car parking spaces.
The building is the fourth phase of the fully let Euro Plaza office park being developed by Kapsch which currently has a gross floor area of 156,000 m2.
Union Investment's open-ended real estate funds now hold real estate assets worth around EUR 400 mln in Vienna.
