S IMMO AG and UBM Development AG agreed to sell under-construction office and retail projects and a parking garage in Vienna to Eastern Property Holdings Ltd. for about €230 million.
The deal involves the QBC 1 and 2 complexes with gross leasable space of more than 38,000 square meters and the QBC 7 underground garage with roughly 580 freehold parking spaces at Am Belvedere 10. About 60% of the office and commercial spaces are either leased or are under negotiations, according to a release. Some of the future tenants are CBRE, Grant Thornton Austria and German restaurant chain Hans im Glueck.
The acquisition is expected to close during the first quarter of 2021, after construction is complete.
