HIH Invest has sold an office building at Simmeringer Hauptstraße 47-49 in Vienna to the Austrian family office vivoreal. The building, constructed in 2007, comprises about 13,000m² of lettable office space and features more than 100 underground parking spaces. The building is fully let. The main tenant is BBRZ - Vocational Training and Rehabilitation Centre. Due to its location directly next to the underground station "Zippererstraße" (U3) and its proximity to the A23, the property features excellent transport connections. HIH Invest acquired the property in 2012 for a closed-end fund and successfully managed it during the holding period. The parties agreed not to disclose the purchase price.
"After a holding period of more than ten years, we were able to successfully sell the office property in line with our plans. We are pleased to have found a buyer in Familiy Office vivoreal, which has first-class expertise of the Vienna office market," said Sebastian Pende, Head of the Vienna branch of HIH Invest.
The family office, which specialises in commercial properties, was thus able to expand its portfolio with a property in line with its own growth strategy. "We are pleased to add a well-established building in the centre of an up-and-coming district to our portfolio. The acquisition shows how transactions are possible, despite a challenging market environment: by working with reliable partners," said Vivian-Thomas Wabitsch, Managing Director of vivoreal.
