German investment manager Deka Immobilien has acquired two logistics properties as well as two project developments in the immediate vicinity of Vienna International Airport.
Financial details were not disclosed.
The project developer and seller is Deutsche Logistik Holding (DLH), a company belonging to the Zech Group. The properties are to be added to the portfolio of the WestInvest TargetSelect Logistics sector fund, marking its debut in Austria.
The two standing assets, Gamma 1 and Gamma 2, belong to the Industrial Campus Vienna East, which will be Austria's largest logistics campus on completion with at least six buildings and a total rental area of more than 120,000 m2.
The two distribution centres, built in 2017 and 2018, comprise a lettable area of almost 33,000 m2 and 65 parking spaces. They are fully let to three established tenants, including Post Systemlogistik, a subsidiary of Austrian Post, and Arvato Logistics Services, a global service provider which is part of the Bertelsmann Group. The properties are certified DGNB Silver.
The two project developments, dubbed Alpha 2 and Gamma 3, also in the Industrial Campus Vienna East, are to be completed in mid-2020 and have a total lettable area of more than 41,000 m2 and 131 parking spaces. They are both targeting DGNB Gold and have been prelet to Hornbach Baumarkt and Rudolph Logistik. Two further properties are being planned on the same park.