TIAA Henderson Real Estate sells Telfspark, a retail warehouse in Austria, to a European investor for €18.5mln.
The asset, located in Telfs, comprises a lettable area of approximately 9,430 m². It was sold on behalf of Warburg - Henderson for their Österreich Fonds Nr. 1 as part of its planned disinvestment phase.
A further eight properties remain in the Fund portfolio; these include three office properties, and five retail properties. Telfspark, built in 2008, is nearly fully-let with an occupancy rate of approximately 96%. Tenants include food retailers MPREIS and Billa in addition to a number of international retail tenants.
EHL Immobilien in Vienna acted on behalf of Warburg - Henderson. David Moese, Head of Investment, Austria at TH Real Estate commented “The retail warehouse is well positioned thanks to its excellent transport connections and established tenant structure. We were able to take advantage of the current strong demand for retail assets, underlined by the attractiveness of the Austrian real estate market.”
Source:TIAA Henderson Real Estate