The Austrian ATL Immoinvest Group has acquired the QBC3 office property in Vienna from Union Investment. The sale price was not disclosed. The building, which was completed in 2017, was acquired in 2016 as a project development for the portfolio of the open-ended real estate fund UniImmo: Global.
“With the acquisition of QBC3, we are laying the foundation for the strategic development of our real estate portfolio in the CEE region and are planning further targeted investments in high-quality locations with long-term potential,” emphasises Filip Rosa, Managing Director of ATL Immoinvest Group.
During the holding period of nine years, we were able to increase the value of the building by around 25 percent through active asset management. We have now taken advantage of the current market opportunity to successfully sell the property as part of a structured process.
QBC3 is named after its location, the Quartier Belvedere Central (QBC), which is located in the immediate vicinity of Vienna’s main train station. The office building is one of six properties in the quarter. It comprises around 8,200 m² of rental space, spread over eight floors. On the ground floor there are retail spaces and restaurants.
The transaction was legally and advised by Schönherr Rechtsanwälte, Vavrovsky Heine Marth Rechtsanwälte, TPA Steuerberatung, LeitnerLeitner Wirtschaftsprüfer Steuerberater and the DELTA Group. CBRE Austria acted as an intermediary.
