KGAL buys EUR 78m office project for new Austrian fund

German fund manager KGAL said that it has acquired the LX2 office project in Vienna on behalf of its newly-established Property Class Austria 7 fund. The property, which will offer 15,500 m[sup]2[/sup] of total surface, is located in the centre of the city, directly across the project from the new Central Station, scheduled for completion in 2012. The total investment volume amounts to EUR 78 mln.

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