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Sign in Sign up for a FREE subscriptionSouth Korean investor buys Vienna office for €300m
Quadoro Real Estate GmbH, consultant to the GENO EuropaFonds, Wien fund, has brokered the sale of the “T-Center” in Vienna’s 3rd district to a South Korean investor consortium led by KTB Investment & Securities and KTB Asset Management.
At approximately €300 million ($335 million), the sale is one of the largest real estate transactions in Austria to date.
The property has 84,000 square meters (904,000 square feet) of lettable space and 866 underground parking spaces.
Tenants include Austrian subsidiaries of Deutsche Telekom AG, City of Vienna, a fitness studio, a restaurant, and a personnel consulting and recruitment company.
With a market volume of almost €4 billion ($4.5 billion), 2018 was the second best investment year in the Austrian market to date, reported BNP Paribas Real Estate. The office segment remained the largest sector with 31 percent. In 2018, the Vienna office market recorded an all-time high in deliveries with a total of
