KGAL, the German based asset and investment manager, has acquired the Galleria Danubia in Hainburg – the fifth property for its institutional property fund Austrian Retail Park Portfolio (ARPP).
Open since March 2015, the fully let retail park is located in the east of Lower Austria, near the booming Slovakian capital, Bratislava. It was built near the historical city centre of Hainburg on the former premises of the "Austria" tobacco factory. A special architectural highlight is the building's roof with its broad overhang and contours lined with attractive wood panelling.
With about 14,000 m², Galleria Danubia is the largest retail offering in Hainburg and its surrounding area, providing the locality with a wide range of goods and services. The 24 tenants of the centre include strong anchor tenants such as C&A, LIDL and Merkur. There are 490 parking spaces available for customers and employees.
“KGAL's presence and network in Austria give us the certainty that we will continue to be able to identify and acquire attractive properties in the extremely competitive Austrian market. We are proud of this purchase,” said André Zücker, head of real estate at KGAL Investment Management GmbH & Co. KG.
Since 2012 KGAL has built its institutional real estate fund Austrian Retail Park Portfolio (ARPP) with acqusitions including the eo Oberwart shopping centre in Burgenland and Shopping Haidäcker Park in Eisenstadt. In October 2014 the fund was reported to be worth over €1 bln.
Source: KGAL
