Commerz Real sells “Optimum” in Vienna for 55 million euros to Conren Land
Commerz Real has sold the Vienna office property Optimum for approx. 55 million euros to a core-plus investment vehicle managed by Conren Land. Built in 2000, the building at Dresdner Straße 81-85 / Traisengasse 1 in the partial market Prater / Lasallestraße has been in the portfolio of the Commerz Real open-ended real estate fund hausInvest since its completion.
Designed as an atrium, the building encompasses a total of 17,000 square metres of leasable space on nine upper storeys and also has 190 car parking spaces. Nearly 90 per cent of the area is currently leased to eight users, including the City of Vienna and the private IUBH International University of Applied Sciences.
With the sale we have been able to utilise the current attractive market situation for sales to the benefit of our investors and at the same time save the fund foreseeable modernisation costs.