Sale of Office Campus Gasometer Phase Two, Vienna completes (AT)

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.

Europa Capital_Office Campus Gasometer_ Vienna

The building is leased to 19 leading national and international companies.

The building comprises 28,400 m² of offices plus 436 underground car spaces and storage. It is leased to 19 leading national and international companies including Nokia Siemens Networks, Fujitsu, LG Electronics, Wiener Wohnen, ILS Consult, Merz, ZTE Austria, Hitachi, KABA, Carmeuse, Quintiles and Reckitt Benckiser.

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

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