Union Investment has sold the office building complex Space 2 Move in the north of Vienna to the newly established Raiffeisen Immobilien Treuhand GmbH. This is a wholly owned subsidiary of Raiffeisen-Holding NO-Wien. Space 2 Move has been held by the open-ended real estate fund UniImmo: Europa since 2015. The purchase price was not disclosed.
"The sale of an office complex of this size demonstrates both the conservative valuation of our high-quality properties and that attractive transactions are possible in this challenging environment. We see this as a very positive signal for our further planned sales and our acquisition targets," said Alejandro Obermeyer, Head of Investment Management DACH at Union Investment.
"This Acquisition is a promising investment for the future. Space 2 Move is located in an interesting urban development area: operational space for modern companies in close connection with residential space and good connections to the public transport network guarantee a potential increase in the value of the office building complex," said Michael Hollerer, General Director at Raiffeisen NO-Wien
The office complex with c. 52,000m² of lettable space consists of two building sections. These are located in Vienna's 19th district at Muthgasse 24-34 and Nussdorfer Lande 17-19. The property offers flexibility for various office use concepts and has LEED Gold certification.