Vienna Office Tower Purchased by German Property Investor

The under-construction tower is set to reach 36 stories upon completion.

03 June 2020 | Vienna, Austria

German property investor Deka Immobilien has acquired the Austro Tower office tower development in Vienna from developer Soravia.

The parties agreed to keep the purchase price confidential. After completion in 2021, the property will be added to te portfolio of then newly-launched Deka-Immobilien Fokus Buro Wien closed-end fund, which is managed in collaboration with Institutional Investment Partners (2IP) and is invested by a number of pension funds.
Located in the Erdberg office submarket in Vienna's third district, the complex will provide a total of 32,000 square meters and has already been pre-let on a long term basis to two public tenants, Asinag and the Austrian civil aviation company Austro Control, occupying around 85 percent of the space.

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