KGAL has acquired the ‘ViE’ office building in the Austrian capital, which has a total rental area of 14,100m2, for one of its property funds. The seller is CA Immobilien Anlagen AG (CA Immo). The building, which is in a central location in Vienna, is fully let with renowned tenants. With this acquisition, KGAL is taking advantage of the attractive European office property market environment to make a high-quality purchase.
Centrally located, certified and high-quality office properties are highly sought after, and the ‘ViE’ is a perfect example of one of them,’ says Christian Schlüter, Portfolio Manager at KGAL.
The ‘ViE’ green building has a DGNB Platinum certification and is categorised in energy class A. It was built in 2018 in an established, easily accessible location in Erdberg-Sankt Marx in Vienna's 3rd district. The architecturally striking ‘ViE’ is part of a new office and residential district on the Danube Canal, directly opposite the extensive Prater Park. The city centre is only five minutes away by underground.
Its glass and aluminium façade ensures a high level of transparency and natural light. Office and retail space is spread over ten floors, with technical areas and the underground car park with 71 parking spaces in the basement. Four terraces and an inner courtyard with an outdoor catering area provide a pleasant working environment.
KGAL Asset Management Austria (AMO), based in Vienna, played a key role in the acquisition. With its local presence, AMO is also ideally placed to successfully manage the ‘ViE’ property in the future.
Image source - CA Immo.
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