Union Investment has sold the Bruckner Office Centre in Linz to the newly founded Hon24 Immobilien GmbH project company, whose sole shareholder is Fabasoft AG.
The building, which is located at Honauerstrasse 2-4 in Linz, had been part of the portfolio of Union Investment’s open-ended immofonds1 real-estate fund, which is marketed exclusively in Austria, since 2015.
“The majority of transactions in the Austrian market take place in Vienna,” said Alejandro Obermeyer, Head of Investment Management DACH at Union Investment. “The current sale is therefore an important signal that transactions can also be handled very successfully in markets such as Linz.”
The Bruckner Office Centre was completed in 2002 and comprises around 7,500 square meters of usable space, with 84% of the space being used for offices and the rest for retail. Fabasoft AG has been a tenant since the building was completed.
Union Investment received legal advice on the transaction from Schoenherr Rechtsanwalte and tax advice from TPA.
Image source: europe-re.com