EQS-News: United Benefits Holding acquires City Tower Vienna for EURO REAL ESTATE from IMMOFINANZ

United Benefits Holding acquires
City Tower Vienna for EURO REAL ESTATE
from IMMOFINANZ

• Landmark property with 26,600 sqm of usable space at top location in Wien Mitte
• United Benefits Holding realises acquisition of the “Justizzentrum Wien Mitte“ for EURO REAL ESTATE with a transaction volume of more than 150 million Euros
• Transaction brokerage provided by EHL Investment Consulting

Vienna, 06.05.2024 – With a purchase price of more than 150 million Euros, this sale is the largest transaction in the office segment of Austria’s real estate market to date in 2024: EURO REAL ESTATE, a member company of the Wilhelm von Finck Group, acquired the City Tower Vienna, one of the most prominent office properties in Vienna, from IMMOFINANZ. United Benefits Holding realised the acquisition through an individual mandate and will now support asset management as a local partner. Based on the early demonstration of taxonomy eligibility, United Benefits Holding was also able to optimise the financing conditions with a major domestic bank. The tower has 24 upper and 4 underground floors with roughly 26,600 sqm of usable space as well as 100 underground parking spaces. It is leased in its entirety to the Republic of Austria and houses the judiciary center in Wien Mitte. The transaction was brokered by EHL Investment Consulting.

This 87 meter complex comprises a high-rise tower with a rotated head structure and two partially elevated side buildings, each with a height of 28 meters. It is located at a central site on the Marxergasse, directly near the urbane Wien Mitte railway station, one of the most important inner city traffic hubs with stations for the U3 and U4 underground lines, the rapid transit railway, long-distance trains, the CAT and numerous tram and bus lines. Vienna International Airport can be reached in 16 minutes, and the Main Railway Station and West Railway Station in ten minutes.

Michael Klement, CEO of United Benefits Holding: “The City Tower Vienna is an iconic property that has become a landmark on Vienna’s skyline. The success of our efforts in identifying and realising an investment opportunity of this size in the current difficult market phase underscores the confidence of institutional investors in our company. The tower is a landmark property, which we plan to develop with a top tenant into a green asset over the coming years. From the deal sourcing to transaction management and active asset management, this project is further proof of concept for our integrated service portfolio.”

Ralf Peter, Managing Director of EURO REAL ESTATE, on the transaction: “The acquisition of the City Tower Vienna by EURO REAL ESTATE underscores our commitment to sustainable and stable value investments in first-class properties. We are proud to work with United Benefits Holding as our transaction manager, whose expertise and extensive service offering enabled the successful conclusion of this complex transaction. This acquisition demonstrates our confidence in the Vienna market and our strategy to invest in trophy assets that create long-term value for the Wilhelm von Finck Group.“

“The successful sale of the City Tower Vienna shows that we are making very good progress with our strategic sales programme. We were able to sell this landmark property at an attractive price around book value. The sale price of over 150 million Euros is the largest transaction to date this year on the Vienna office market and, in times where the investment market is characterised by noticeable restraint on the part of buyers, it demonstrates the outstanding quality of our properties and the high real estate expertise of our team. In line with our strategy, we plan to invest the proceeds in higher yielding retail and office properties to create additional value“, explained Radka Doehring, Member of the IMMOFINANZ Executive Board.

“We are very proud to have brokered this trophy property to a sustainability oriented investor in these challenging times. The long contract term with the Republic as an optimal tenant at one of the most attractive locations in Vienna is the basis for this transaction“, explained Franz Pöltl, Managing Partner of EHL Investment Consulting. “Investors with strong equity resources are beginning to stretch out their feelers in the absolute top segment and anticipate the expected recovery of the investment market.“

United Benefits Holding and its subsidiaries were responsible for the deal sourcing, structuring and financing of the transaction as well as the due diligence and contract negotiations. Professional support was provided by Schönherr Rechtsanwälte (legal); TPA Unternehmensberatung (tax), United Climate (ESG check) and Salzmann Capital (financing).



On United Benefits Holding

United Benefits Holding is an independent real estate service provider with an integrated approach. Together with its subsidiaries – INVESTER United Benefits (Development), EKAZENT Asset Management, United Climate (ESG-Full-Service) and WEALTHCORE Investment Management – it initiates, develops, realises and manages real estate investments in the DACH region and offers a full range of services and processes along the entire value chain for real estate investments. In line with the company’s clear ESG strategy, independence, transparency and social justice as well as CO₂ reduction and the sustainable creation of value represent the focal points for all investments. The group employs roughly 90 employees and manages a volume of approximately two billion euros. www.ub-holding.com

On IMMOFINANZ

IMMOFINANZ is a commercial real estate group whose activities are focused on the office and retail segments of eight core markets in Europe: Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and the Adriatic region. The core business covers the management and development of properties, whereby IMMOFINANZ relies on its established real estate brands – STOP SHOP (retail), VIVO! (retail) and myhive (office) – and also on complementary products and portfolios that include S IMMO. IMMOFINANZ increased its investment in S IMMO to 50% plus one share at the end of 2022 and now consolidates this company in full. IMMOFINANZ Group holds roughly 500 properties with a combined value of approximately EUR 8.2 billion. The company is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: https://www.immofinanz.com

On EHL Immobilien

EHL Immobilien is one of Austria’s leading real estate service providers and is specialised in commercial, investment and residential properties. Its activities range from property brokerage and appraisal, asset and portfolio management to market research and investment advising. The exclusive partnership with the global real estate service provider BNP Paribas Real Estate gives the EHL Group access to a global network and market know-how in 23 countries.

EHL Immobilien was founded in 1991 and has grown to become one of the leading brokers in all major segments of the Austrian market, in particular the rental of offices (2023: approx. 60,000 sqm) and retail properties through its subsidiary EHL Gewerbeimmobilien GmbH and the brokerage of apartments (2023: approx. 1,750 units rented/sold/invested) by its subsidiary EHL Wohnen GmbH. The subsidiary EHL Investment Consulting GmbH is the market leader in Austria with a brokered transaction volume of approximately EUR 700 million. In addition, EHL Immobilien Bewertung GmbH is the number one for property appraisal. www.ehl.at

Press Contacts

United Benefits Holding GmbH

Agentur SCRIVO Public Relations

Tristan Thaller

T + 49 89 45 23 508 15, M +49 1512 1731447
[email protected];

Website: scrivo-pr.de

IMMOFINANZ

Investor Relations and Corporate Communications

Simone Korbelius

T +43 1 88 090 2291, M +43 699 1685 7291
[email protected], [email protected]

EHL Immobilien

M&B PR, Thomas Brey

M +43 676 542 39 09, [email protected]