Union Investment has sold the office building complex Space 2 Move in Vienna, Austria, to the newly established Raiffeisen Immobilien Treuhand GmbH.
The office complex has around 52,000 m2 of lettable space split into two buildings. They are at Vienna’s 19th district at Muthgasse 24-34 and Nussdorfer Lande 17-19.
Space 2 Move had been held by the open-ended real estate fund UniImmo: Europa since 2015. The purchase price was not disclosed.
The Global Gate III property at Grafenberger Allee 297 has a total rental area of 11,087 m2. It is currently fully let. It is located directly opposite the tram station Schlüterstraße / Arbeitsagentur in the Düsseldorf district of Grafenberg. The property has LEED Gold Certification.
Alejandro Obermeyer, Head of Investment Management DACH, says, “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.”
Michael Höllerer, General Director at Raiffeisen NÖ-Wien, says, “This acquisition is a promising investment for the future. 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.”
Raiffeisen Immobilien Treuhand GmbH is a wholly owned subsidiary of Raiffeisen-Holding NÖ-Wien.
Savills Immobilien Beratungs-GmbH acted as agent in the sale.
