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South Korean investor group pays €300M for Vienna office building

A South Korean investor group led by KTB Investment & Securities Co. Ltd. and KTB Asset Management Co. Ltd. carried out one of Austria's largest ever real estate deals with the purchase of an office building in Vienna for roughly €300 million, REFI Europe reported.

Quadoro Real Estate sold the 84,000-square-meter T-Center in the city's third district and will continue to manage the asset following its divestment.

The property is leased to Austrian subsidiaries of German telecommunications company Deutsche Telekom AG. Other tenants include a gym, a restaurant and a personal consulting and recruitment firm, the May 21 report added.