Europa Capital Partners LLP, on behalf of the Europa Fund, and the 50:50 joint venture partner IMMOFINANZ AG, are pleased to announce completion of the sale of Office Campus Gasometer Phase 2 (OCG2) in the Simmering district of Vienna, to Bank Austria Real Invest Immobilien-Kapitalanlage GmbH for approximately 75 million, pursuant to an agreement signed in early June.
OCG1, the first phase, was developed by Europa Fund, let on a long lease to Statistik Austria and sold to an Austrian institution on completion in 2004.
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 intermediated on the transaction.
Source: Accedo Group