Deka acquires office tower project in Vienna

Deka acquires office tower project in Vienna
Image: Courtesy of Soravia

German real estate investor Deka Immobilien Investment GmbH has acquired the Austro Tower, an office tower project in Vienna, from real estate developer Soravia. The parties have agreed not to disclose the purchase price.

The 136 meter high tower at Schnirchgasse 17 in 1030 Vienna will remain the property of Soravia until completion in the fourth quarter of 2021, after which Deka will take over the Austro Tower project.

”At this point, the building will already be fully let – 85% of the 28,000 m² of office space will become the new headquarters of Austro Control and Asfiang. Soravia plans to move into the remaining space and use it as a new company headquarters,” said Soravia in a statement.

“This transaction clearly shows that good projects are valuable even in times of crisis. Quality and sustainability are crucial for this. We are happy to have found a top investor for this landmark in Deka,” said Erwin Soravia, CEO of Soravia.

Austro Tower, an office tower in Vienna, is located directly on the Danube Canal, surrounded by the residential towers TrIIIple and the business district TownTown. The connection could not be better – in the immediate vicinity of major traffic arteries such as the A4, which connects the airport with the city center, the new landmark is also publicly accessible (U3, line 18), on foot and by bike.

The transaction was legally managed by SCWP Schindhelm around the Immanuel Gerstner team and Wolf Theiss Rechtsanwälte around the Birgit Kraml team. Soravia was looked after by BDO and Deka by TPA Steuerberatung GmbH.