Union Investment sells office complex in Vienna

Union Investment sells office complex in Vienna

Union Investment has sold the office building complex Space 2 Move in the north of Vienna.

The company sold the office building to the newly established Raiffeisen Immobilien Treuhand GmbH, a wholly owned subsidiary of Raiffeisen-Holding NÖ-Wien.

Space 2 Move has been held by open-ended real estate fund UniImmo: Europa since 2015. The purchase price was not disclosed.

“The sale of an office complex of this size demonstrates both the conservative valuation of our high-quality properties and that attractive transactions are possible in this challenging environment. We see this as a very positive signal for our further planned sales and our acquisition targets,” says Alejandro Obermeyer, Head of Investment Management DACH at Union Investment.

“This acquisition is a promising investment for the future,” says Michael Höllerer, General Director at Raiffeisen-Holding NÖ-Wien, he is convinced: “Space 2 Move is located in an interesting urban development area: operational space for modern companies in close connection with residential space and good connections to the public transport network guarantee a potential increase in the value of the office building complex.”

The office complex with around 52,000 m² of lettable space consists of two building sections. These are located in Vienna’s 19th district at Muthgasse 24-34 and Nussdorfer Lände 17-19. The property offers the flexibility for various office use concepts and has LEED Gold certification.

Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!