Allianz Real Estate France has closed a long term financing for the acquisition of IZD Tower, a high-rise office building in Vienna, Austria. The building was acquired by Korean investors. Allianz is the sole lender for this €154.3m loan, granted over 10 years at fixed rate. The asset will be managed by CBRE Global Investors.
Built in 2001, recently renovated and almost fully let, IZD Tower totals around 65,000m² spread over 39 floors. The asset is located in the central business district of Donau City in Vienna, and is very well served by public transport. “This transaction is an opportunity for Allianz Real Estate to close a second financing deal in Austria and to further diversify the investment portfolio geographically", commented Carole Tran Van Lieu, Head of Debt Team in Paris.
In this transaction, legal advice were DLA Piper for the lender and Doralt Seist Csoklich (DSC) for the borrowers.
