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TH Real Estate acquires office building in Vienna from Deka Immobilien

Silk 7

TH Real Estate has acquired Silk 7, an office building in Vienna, on behalf of its Österreich Fonds Nr. 2. The property was purchased from Deka Immobilien Gmbh for c.€22m.

The building is located west of the town centre on Seidengasse 9, close to Mariahilfer Straße, one of Vienna’s prime high street pitches. The area features a diverse mix of retailers and restaurants. Silk 7 is well connected to the public transportation network and lies within walking distance of the Westbahnhof railway station.

Having undergone a comprehensive refurbishment in 2005-2006, the property now features a total floor area of 92,591 sq ft (8,602 sq m). It is divided into 20 units occupied by prime tenants including Iventa, Schülke & Mayr, MedMedia Verlag and Mediaservice.

The Österreich Fonds Nr. 2 invests in a diversified portfolio of commercial real estate in the risk segment core/core plus. Predominantly comprised of German and Austrian investors, the Fund has an investment focus on retail properties throughout Austria in addition to office properties in Vienna. This latest acquisition marks the 11th asset for the Fund portfolio. The target volume including debt capital is €300m.

David Moese, Managing Director, Head of Property Investment Austria, TH Real Estate, comments:

"Silk 7, Seidengasse 9, is situated in a strong city location in the 7th district of Vienna, providing excellent access to Vienna’s public transport system, and is in close proximity to the prime retail pitch - Mariahilfer Straße. This type of asset is rarely traded in Vienna.

Complemented by its broad-based tenant mix, its relatively short lease terms, and its flexible fit-out options, the property offers a sound structure for the coming years, and thus perfectly matches the Fund’s requirement profile."  

 

Disclaimer

Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority.

TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services.

 The value of investments and any income will fluctuate (this may be partly be the result of exchange rate fluctuation) and investors may not get back the full amount invested. Where opinions have been expressed, they are based on current market conditions and are subject to change without notice. Where opinions have been expressed, they are based on current market conditions and are subject to change without notice. COMP201500222.

 

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