Raiffeisen-Holding NÖ-Wien, a holding company with investments in the agricultural, banking, media and infrastructure sectors, has acquired an office in Vienna from Union Investment.
The office complex, Space 2 Move, situated in the north of Vienna, has been acquired by the newly established Raiffeisen Immobilien Treuhand, a wholly owned subsidiary of Raiffeisen-Holding NÖ-Wien.
Space 2 Move has been held by open-ended real estate fund UniImmo: Europa since 2015. The purchase price was not disclosed.
'This acquisition is a promising investment for the future,' says Michael Höllerer, general director at Raiffeisen NÖ-Wien. 'Space 2 Move is located in an interesting urban development area: operational space for modern companies in close connection with residential space and good connections to the public transport network guarantee a potential increase in the value of the office building complex.'
The asset, located in Vienna's 19th district, comprises some 52,000 m² of lettable space across two buildings. These are situated at Muthgasse 24-34 and Nussdorfer Lände 17-19. The property offers the flexibility for various office use concepts and has LEED Gold certification.
'The sale of an office complex of this size demonstrates both the conservative valuation of our high-quality properties and that attractive transactions are possible in this challenging environment. We see this as a very positive signal for our further planned sales and our acquisition targets,' said Alejandro Obermeyer, head of investment management DACH at Union Investment.