CA Immo has completed the sale of an office building in Vienna's 15^th district at Linke Wienzeile 234/Storchengasse 1 to a local investor and developer.

The sale is in line with CA Immo's long-term investment strategy, which has a clear focus on large, high-quality class A office properties in prime inner-city locations. As part of this strategy, CA Immo is selling properties that do not correspond to the core business in terms of asset class, location, building quality, age, or value creation potential, continuously optimising the quality and sustainability of the property portfolio. 

Keegan Viscius, CEO of CA Immo: “With this sale, we free up capital for alternative allocation options, and monetise future profits where only limited further value creation exists under our business model. The proceeds from sale may be used in a number of ways, including general corporate purposes, accretive investment in our prime portfolio, repayment of debt, buyback of shares, and external investment should attractive opportunities arise.”

The building is well connected to both the public transport network (U4/U6 Längenfeldgasse station) and the road network (Wiental/Westeinfahrt A1, Grünbergstrasse A23, A2, Gürtel). Transport hubs such as the West and Hauptbahnhof railway stations, Vienna Airport and the city center can be reached quickly, and a wide range of shopping opportunities are offered by the nearby Meidlinger Hauptstraße and the U4-Center Meidling, among others.

CBRE acted as commercial advisor to CA Immo in this sale process.