Warburg-HIH Invest acquires office property in Vienna

Warburg-HIH Invest Real Estate has purchased an office property in Vienna in the form of a club deal on behalf of single mandates by two institutional German investors. The financial terms were not disclosed.

The property was sold by STRABAG Real Estate Austria.

The multi-tenant property, which includes a retail component, is located in the 19th district (Döbling) in the northern part of Vienna and has a total leasable area of around 31,450 square meters (338,525 square feet). Completed in 2018, the property currently shows an occupancy rate of 91 percent. Its office tenants include the globally operating Zurich insurance group, the AOP Orphan pharmaceutical company, and Spaces, a provider of flexible workplace solutions. Retail and gastronomy units take up about 5 percent of the leasable area. Tenants also have the use of 354 car parking spaces. Warburg-HIH Invest acquired the property via a share deal. It was agreed not to disclose the selling price.

Matthias