Immofinanz has separated from the City Tower Vienna with the “Justizzentrum Wien Mitte”. The buyer of the office building is Euro Real Estate, a company of the Wilhelm von Finck Group. Both companies announced this this week.
With a purchase price of more than 150 million euros, the sale is the largest transaction of the year so far in the office segment on the Austrian real estate market. The tower has a total usable area of around 26,600 m² on 24 upper floors and four basement floors as well as 100 underground parking spaces. It is rented as a whole to the Republic.
Central location in Vienna
The 87 meter high complex includes a high-rise tower with a twisted head structure and two partially elevated side buildings, each 28 meters high. It is located in a central city location on Marxergasse, right next to the urban center of Wien Mitte station, the most important inner-city transport hub in Vienna with stations on the U3 and U4, express trains, long-distance trains, the CAT as well as tram and bus lines.
The building was handed over to the Ministry of Justice in September 2003 after around two years of construction. The “Wien Mitte Justice Center” consists of the Commercial Court, the District Court for Commercial Matters and the Inner City District Court of Vienna. The transaction shows “that we are making very good progress with our strategic sales program,” says Radka Doehring, Immofinanz board member. The Czech CPI Property Group has been the majority owner of the real estate company since May 2022.
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