Union Investment has sold the Bruckner Office Centre in Linz. The acquisition was made via the newly founded project company Hon24 Immobilien GmbH, whose sole shareholder is Fabasoft AG. The building at Honauerstrasse 2-4 had been part of the portfolio of the open-ended real estate fund immofonds1, which is marketed exclusively in Austria, since 2015.
"The majority of transactions in the Austrian market take place in Vienna. The current sale is therefore an important signal that transactions can also be handled very successfully in markets such as Linz," said Alejandro Obermeyer, Head of Investment Management DACH at Union Investment.
The Bruckner Office Centre was completed in 2002 and comprises around 7,500m2 of usable space. Around 84% of this is office space and the rest is retail space. Fabasoft AG has been a tenant since the building was completed. The property benefits from its central location in Linz on the Donaulande and has excellent connections to the public transport network.
Union Investment received legal advice on the transaction from Schonherr Rechtsanwälte and tax advice from TPA.
Image source - Union Investment.
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