Binder Grösswang advises Raiffeisen Property Holding International on the sale of a fully rented office property in the Austrian capital as part of a share deal to the open-ended real estate fund “Swiss Life Ref (DE) European Real Estate Living & Working”.

The 8-storey office property with a total of approx. 12,000 m² and a parking garage is located in a well-connected location in Vienna's 14th district in Linzer Straße and is fully rented to Allianz Elementar Versicherung. The property was completed in September 2020. A special highlight of the property, which has been certified with the renowned ÖGNI Gold environmental seal, is the environmentally friendly electricity generation via the building's own photovoltaic system and the connection to the district heating network of the City of Vienna. This will save a total of around 185 tonnes of CO2 annually.

Closing of the transaction took place on 7 December 2021. The parties agreed not to disclose the purchase price.

The Binder Grösswang core team comprised Markus Uitz (partner, Real Estate Law), Christian Wimpissinger (partner, Tax Law) as well as Michael Delitz (attorney at law, Real Estate Law).

About Raiffeisen Property Holding International

Raiffeisen Property Holding International (RPHI) is the real estate competence centre of Raiffeisen Bank International (RBI) AG, of which the company is a 100 % subsidiary. RPHI develops, manages, operates and exploits real estate in Austria and the CEE region. RPHI's range of services includes own developments as well as comprehensive real estate services in various asset classes.

The successful developments impress with timeless, appealing architecture, are energy-efficient and optimised in terms of operating costs. All new developments since 2011 have been awarded sustainability certificates (ÖGNI, DGNB or LEED) in the respective top segments.