AFIAA sells portfolio in Salzburg

The investment foundation acquired the portfolio in 2007 and subsequently modernized and leased it. It consists of six properties with a total floor space of 17,365 sqm, which are used for offices and retail. Four properties are located in the Gusswerk-Areal, a commercial area with a focus on fashion and lifestyle. The reason for the sale is the strategy of the AFIAA Global fund, which has been in place for four years, to focus on higher property volumes and corresponding locations, according to the investment foundation.

AFIAA was advised on the transaction by Hölzl & Hubner Immobilien from Salzburg, Otto Immobilien from Vienna and the commercial law firm Wolf Theiss. RMI was represented by the commercial law firm Zumtobel + Kronberger from Salzburg.

The investment foundation, founded in 2004, manages real estate assets of around CHF 3.3 billion as of December 31, 2019, according to its own information. AFIAA Global invests in office and retail properties with an investment volume of 50 to 150 million, with a focus on core and core plus properties in inner-city locations in major cities in Europe, North America and Australia. (ah)