Acron sells property in Vienna to Real I.S.
Acron Group has sold the mixed-use commercial property Wien Westbahnhof A3 in BahnhofCity Wien West as a share deal to a Real I.S. fund.
The property value for the property in the Austrian capital, on which the purchase price is based, amounts to about 110 million euros (about CHF 130 million), Acron says.
The sold property is a property with offices, a Motel One hotel and a shopping center directly at the Westbahnhof in Vienna, which was completed in 2011. The property is fully leased at the time of sale and is managed by ECE Projektmanagement Austria.
At the time, the investment was placed in a Luxembourg single-property limited company, Acron Wien West A3 S.A.. According to the company, the investors were able to realize an asset growth of around 89 percent of their invested equity.
Acron was advised on the transaction by commercial law firm Arendt & Medernach and Eastdill Secured. The buyer Real I.S. AG is a well-known German provider of real estate investments for private and institutional investors.
