In a strategic move expanding its European residential portfolio, HIH Invest Real Estate has acquired its first Austrian residential property, purchasing the modern Quartier11 complex in Vienna's growing Simmering district for an open-ended special AIF.
The 17,388 m² development, completed in 2018, comprises seven buildings with 248 rental apartments boasting an impressive 99% occupancy rate. The complex includes a 740 m² daycare facility and 140 m² medical practice, complemented by 151 underground parking spaces and extensive community amenities.
"This acquisition aligns with our strategic objective to enhance our exposure to the European residential market, which continues to show solid fundamentals and favourable entry points," comments Alexander Eggert, Managing Director at HIH Invest. "Quartier11 is a resilient, income-generating residential asset in a growth-oriented district of Vienna, and we are actively evaluating further acquisitions in the region."
With rental prices below €13/m², Quartier11 strikes the increasingly rare balance between affordability and sustainability, featuring A++ energy standards and ground-source heat pumps for year-round climate control. HIH Invest plans to enhance the property's ESG credentials through photovoltaic panel installation, EV charging points, and comprehensive energy efficiency upgrades, a move likely to increase asset value amid tightening EU environmental regulations and shifting investor preferences.
"With rental prices below €13/m², Quartier11 offers energy-efficient, affordable housing in a district experiencing dynamic growth," says Sebastian Pende, Head of HIH Invest's Vienna office. "This asset demonstrates that sustainability and affordability are not mutually exclusive but can be effectively integrated."
The transaction was supported by DORDA Rechtsanwälte GmbH, TPA Steuerberatung GmbH, Alpha & Partner Consulting GmbH, and Otto Immobilien, with ÖRAG's investment team brokering the deal for the seller.
People mentioned:
- Alexander Eggert - Managing Director, HIH Invest Real Estate
- Sebastian Pende - Head of Vienna Office, HIH Invest Real Estate
- Stefan Artner - Partner, DORDA Rechtsanwälte GmbH
- Vivien Lux - Associate, DORDA Rechtsanwälte GmbH
Companies mentioned:
- HIH Invest Real Estate - Investment manager
- DORDA Rechtsanwälte GmbH - Legal due diligence provider
- TPA Steuerberatung GmbH - Tax due diligence provider
- Alpha & Partner Consulting GmbH - Technical and environmental assessor
- Otto Immobilien - Commercial due diligence provider
- ÖRAG - Transaction broker
Image source: HIH Invest
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