Otto Immobilien GmbH
Vienna (ots)
OTTO Immobilien brokers successfully
The Austrian family office vivoreal has acquired an office building at Simmeringer Hauptstraße 47-49 in Vienna from the fund and investment manager HIH Invest Real Estate (HIH Invest). The building, constructed in 2007, has a total of almost 13,000 m² of rentable space and over 100 underground parking spaces and is fully rented; The main tenant is the BBRZ – vocational training and rehabilitation center. Due to its location right next to the underground station “Zippererstraße” (U3) and its proximity to the A23, the property has excellent transport connections. The family office, which specializes in commercial properties, was thus able to expand its portfolio with a property in line with its growth strategy. The parties have agreed not to disclose the purchase price.
“We are pleased to expand our portfolio with the acquisition of this property with a well-established building in the center of an up-and-coming district. The acquisition is a strong sign that transactions are possible despite the challenging market environment through cooperation with reliable partners Vivian-Thomas Wabitsch, managing director of vivoreal.
HIH Invest, a fund and investment manager active throughout Europe with its headquarters in Hamburg, Germany, acquired and successfully managed the property in 2012 for a closed-end fund.
“After holding the property for more than ten years, we were able to successfully sell the office property as part of our planning. We are pleased to have found a buyer in the family office vivoreal who has first-class expertise in the Vienna office market,” explains Sebastian Pende, Vienna branch manager of HIH Investthe sale.
“Especially in the current market environment, office properties represent the backbone of the commercial real estate market. The transaction of a large-volume property once again shows the stability of the local market, but also underlines the importance of private investors in the current environment,” emphasizes Christoph Lukaschek, Head of Investment OTTO Immobilienthe Austrian partner of Knight Frank.
About vivoreal group
The vivoreal group is a Viennese real estate investor that specializes in office real estate and records annual growth of between 20-50 million euros in this market segment. The portfolio of the vivoreal group is characterized by central locations and main tenants with good credit ratings and is mainly located in Vienna.
About HIH Invest Real Estate
HIH Invest Real Estate (HIH Invest) is one of the leading real estate investment managers in Germany and Europe. We find, develop and manage real estate and investments with a future-oriented view in the interest of our customers. Decades of experience, proximity to real estate markets and close networking enable us to uncover real estate opportunities and implement them quickly when the market is right.
Around 260 institutional customers entrust their capital investments to HIH Invest. Our specialists from the areas of structuring, product development, real estate management and market development are at your disposal to develop suitable investment solutions for you.
HIH Invest is represented at ten locations across Europe. As part of the HIH Group, we cover the entire value chain of a real estate investment with our own capacities. The early recognition of market changes, the implementation of regulatory requirements and future-oriented digital management are part of our corporate philosophy.
Assets with a volume of 17.5 billion euros are currently managed in 89 funds.
About OTTO Real Estate
With around 100 employees, OTTO Immobilien is one of the largest private, independent and owner-managed real estate consultants in Austria. The company has been successful on the Vienna market for more than 65 years and offers all areas of real estate services: the sale and rental, management and valuation of residential and commercial real estate. OTTO Immobilien is a company traditionally rooted in Vienna – but with global perspectives: Knight Frank, the world’s largest private real estate consultant, has been a strong international cooperation partner since 2011.
Press contact:
Katharina Scheidl-Aziz
press and communication
Otto Immobilien GmbH
Riemergasse 8, 1010 Vienna
T +43 1 512 77 77-336
M +43 650 350 90 36
Original content from: Otto Immobilien GmbH, transmitted by news aktuell
