Westcore Europe Announces Acquisition in Vienna and Office Move in Geneva
LONDON, Nov. 6, 2018 /PRNewswire/ -- The real estate investor and manager, Westcore Europe, has acquired the office and warehouse property, "U6 Center," in Vienna from the closed-end real estate fund, Hanseatische Immobilienfonds Österreich IV, which has been managed by Apleona Fondsmanagement GmbH since 2013. The U6 Center is located in Lemböckgasse 49 in Vienna's 23rd district, in the industrial area Liesing. This purchase successfully expands Westcore Europe's portfolio in Vienna.
The U6 Center was built in 2000. On a 10,413-square-meter lot, the building has approximately 83 percent office and 17 percent warehouse, with a total leasable area of approximately 24,848 square meters. The current main tenant, The Bit Group, is the largest private education and qualification provider in Austria.
Westcore Europe purchased the property with advisement by Wolf Theiss (law), TPA (tax), and Colliers International (technology). The seller was advised by Otto Immobilien (real estate), PKHV Rechtsanwälte (law), and KPMG (tax).
Ingo Bischof, Sebastian Kann, and Daniel Barrington led the Westcore team in expanding its Austrian portfolio. "As a creative investor, we see great potential and have interesting plans for this property," says Daniel Barrington.
Stefan Weishaupt, who legally structured the acquisition with Peter Oberlechner and Wolf Theiss, says, "There were some difficult hurdles to overcome, but we're happy to see this transaction with Westcore over the finish line."
Christoph Lukaschek, Head of Investment Otto Immobilien, says, "We're pleased to have worked with Apleona on this sale and to have found the right buyer for this established office property with Westcore Europe."
Westcore Europe also announces the recent move of its Geneva office to a larger space to accommodate the firm's growth. The Geneva office is now located at Rue des Voisins 17, 1205 Geneva, Switzerland.
Westcore Europe, part of the Westcore Properties Group, is a real estate investor-manager with a specialization in multi-tenant industrial, retail, and office properties. Globally, the company has over €1.5 billion in assets under management, €300 million of which is located in Europe. Westcore Europe has a consistent record of delivering high risk-adjusted investment returns to investors through effective asset management and operating strategies. Its clients include opportunity funds, real estate investment trusts, family offices, and high net worth individuals. Westcore Europe operates from four offices in London, Geneva, Berlin, and Vienna. For more information, visit http://www.westcore.eu/.
Contact: Beth Binger
BCIpr.com
beth.binger@BCIpr.com
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