IZA Tower acquired by CBRE GI for Korean investors
In what’s being described as the largest real estate transaction in Austria for the last two years, CBRE Global Investors has acquired the IZD Tower in Vienna on behalf of Korean separate account clients. The seller was a German fund managed by Austrian investment manager SIGNA. IZD Tower, which includes a six-storey building next to it, is 94 percent leased with a WAULT of more than 10 years. The 65,000 sqm, 39-storey building is a dominant feature of the Donau City district of Vienna, and serves as the headquarters of important institutions including the United Nationas European Campus.
Katarina Horvathova, Transaction Manager CEE, CBRE Global Investors, said: “As the second biggest German-speaking city globally, Vienna continues to be an important business hub offering an attractive pricing/risk premium. IZD Tower offers our client a high-quality stabilized core investment in one of the most attractive locations for international cities.”