Europa Capital LLP, on behalf of the Europa Fund, is pleased to announce an agreement has been signed for the sale of OCG2, the second and final phase of its successful Office Campus Gasometer development in the Simmering district of Vienna, to Bank Austria Real Invest for approximately 75 million.
OCG1, the first phase, was developed by Europa Fund, let on a long lease to StatistikAustria and sold to an Austrian institution on completion in 2004.
Erik Ruane, Partner and Head of Development at Europa Capital, said, "Having conceived and created an attractive investment in terms of building quality, occupier profile and tenant diversity, we are pleased to have concluded this transaction with Bank Austria Real Invest."
RED Real Estate Development GmbH was development manager of OCG2. EMCV Management Consulting GmbH and DLA Piper Weiss-Tessbach advised the vendor. BAR bareal Immobilientreuhand GmbH inter-mediated on the transaction.