Independent real estate service provider United Benefits Holding has acquired City Tower Vienna for
Euro Real Estate from Immofinanz for more than €150 million in what is the largest transaction in the office segment of Austria’s real estate market to date this year. The transaction was brokered by EHL Investment Consulting.
One of the most prominent office properties in the Austrian capital, City Tower Vienna, has 24 upper and 4 underground floors with roughly 26,600 sqm of usable space as well as 100 underground parking spaces. The Austrian Ministry of Justice currently occupies the entire landmark property as the sole tenant.
This modern office complex is divided into three sections and boasts an impressive architecture. It consists of a 87m tall office tower with a rotated head structure and two partially elevated side buildings, each with a height of 28 meters. It features modern interior design elements, such as raised access flooring and cooling beams that allow employees to concentrate and focus. The outdoor area is perfect for taking relaxing breaks.
Vienna City Tower is centrally located in Vienna’s 3rd district on Marxergasse, directly near the urbane Wien Mitte railway station, one of the most important inner city traffic hubs with stations for the U3 and U4 underground lines, the rapid transit railway, long-distance trains, the CAT and numerous tram and bus lines. The office building is also perfectly connected to Vienna International Airport, the Main Railway Station and West Railway Station in ten minutes.
“The City Tower Vienna is an iconic property that has become a landmark on Vienna’s skyline. The success of our efforts in identifying and realising an investment opportunity of this size in the current difficult market phase underscores the confidence of institutional investors in our company. The tower is a landmark property, which we plan to develop with a top tenant into a green asset over the coming years. From the deal sourcing to transaction management and active asset management, this project is further proof of concept for our integrated service portfolio” Michael Klement, CEO of United Benefits Holding, commented on the acquisition.
For his part, Ralf Peter, Managing Director of Euro Real Estate, stated: “This acquisition demonstrates our confidence in the Vienna market and our strategy to invest in trophy assets that create long-term value for the Wilhelm von Finck Group.” Euro Real Estate is a member company of the Wilhelm von Finck Group.
United Benefits Holding realised the acquisition through an individual mandate and will now support asset management as a local partner. Based on the early demonstration of taxonomy eligibility, United Benefits Holding was also able to optimise the financing conditions with a major domestic bank. Austria-based United Benefits Holding employs roughly 90 employees and manages a volume of approximately €2 billion.
