EQS-News

United Benefits Holding acquires City Tower Vienna for EURO REAL ESTATE from IMMOFINANZ - Seite 2

 

Michael Klement, CEO of United Benefits Holding: “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.”

 

Ralf Peter, Managing Director of EURO REAL ESTATE, on the transaction: “The acquisition of the City Tower Vienna by EURO REAL ESTATE underscores our commitment to sustainable and stable value investments in first-class properties. We are proud to work with United Benefits Holding as our transaction manager, whose expertise and extensive service offering enabled the successful conclusion of this complex transaction. 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.“

 

“The successful sale of the City Tower Vienna shows that we are making very good progress with our strategic sales programme. We were able to sell this landmark property at an attractive price around book value. The sale price of over 150 million Euros is the largest transaction to date this year on the Vienna office market and, in times where the investment market is characterised by noticeable restraint on the part of buyers, it demonstrates the outstanding quality of our properties and the high real estate expertise of our team. In line with our strategy, we plan to invest the proceeds in higher yielding retail and office properties to create additional value“, explained Radka Doehring, Member of the IMMOFINANZ Executive Board.