KGAL Group continues to expand its real estate portfolio with the latest acquisition of “Taborland” retail park in Steyr, Austria. The property will be subject to an open-ended Austria real estate special fund.
Taborland retail park is a top retail and leisure destination offering 10,200m² of retail and restaurant space and is particularly focused on being a local supply centre. The retail park underwent a complete regeneration and reopened in November 2020. Taborland consists of 16 fully and long-term leased market-leading chain stores, with Billa, Austria’s leading supermarket, being the anchor tenant. The open mall offers green space elements and quiet zones all of which are architecturally distinctive. Covered entrances to each of the stores ensure a carefree shopping experience whatever the weather.
“Today KGAL has over 520,000m² of commercial rental space in Austria, having been active investor in this market for many years. This track record makes us one of the largest real estate investors in Austria,” said Andre Zucker, Managing Director of KGAL Investment Management GmbH & Co. KG with responsibility for the real estate asset class.“We are pleased to have made another attractive investment with Taborland. This prime asset is well-established and, following its recent complete regeneration, the retail park now also meets all of our quality expectations and standards.”