Union Investment Acquires Offices in Vienna
Union Investment Real Estate GmbH, on behalf of its UniImmo: Deutschland open-end real estate fund, has purchased the fully-let Euro Plaza 4 office building located in Vienna. The seller is Austrian firm Kapsch Immobilien GmbH. A sales price was not disclosed.
Completed in 2008 and consisting of a five-storey section and an eight-storey section, the building offers some 48,500 square metres of rental space let on long-term leases to 24 financially sound tenants, including Boehringer Ingelheim, Coca-Cola, Nestlé and Merck Sharp & Dohme.
Including this latest acquisition, Union Investment’s open-end real estate funds currently hold real estate assets worth around €400 million in Vienna.
In a separate deal, Union Investment recently acquired the Alberga B office building in Espoo, Finland, for approximat