30 December 2020, Road Town, Tortola, BVI
In August 2019, EPH European Property Holdings Ltd. signed the forward
purchase transaction regarding the acquisition of prestigious QBC 1 & 2
in Vienna, Austria from the joint venture partners UBM Development (66%)
and S IMMO (34%). The closing now took place on December 29, 2020.
The Closing includes the office properties QBC 1 & 2 with a leasable
area of 38,700 sqm as well as QBC 7, the underground car park with 583
parking spaces (total of almost 680 parking spaces) which have been
successfully developed by UBM Development in the past 2 years. QBC 1 & 2
are currently one of the most sought-after office locations in Vienna.
This shows the demand for high-quality office space in a prime location
remains high. "The project was completed without delays despite two
lockdowns," comments Thomas G. Winkler, CEO of UBM Development AG on the
successful closing.
QBC 1 & 2 is rented to reputable office tenants including Grant Thornton,
Regionalmedien Austria and CBRE as well as commercial tenants like Hofer,
Österreichische Post, a pharmacy and a restaurant.
In total, the sales price for QBC 1 & 2 as well as the underground car
park amounts to around EUR 230 million. In the course of the transaction,
EPH has taken over existing financing in the amount of approx. EUR 114
million granted by Raiffeisen Bank International AG. The remaining part
has been financed with Company's funds. EPH has recently successfully
completed a share capital increase through offering new shares to the
market.
EPH is confident of the striking location of the Property. The Quartier
Belvedere scores with an optimal combination of a location close to the
city center, the mobility hub of the main train station and a diverse
infrastructure of stores, hotels, restaurants, and leisure facilities.
With its attractive working and living environments, the location at the
main station has developed not only into the new financial district but
also into a "place to be" in Vienna. Approximately two-thirds of this
multifunctional development are offices whereas to ensure that the new
district is also lively after office hours, two hotels and an attractive
restaurant scene have been created in addition to condominiums and
serviced apartments.
EPH European Property Holdings Ltd. is an investment company listed on
SIX Stock Exchange. As part of its geographical diversification and
strategic intentions to stabilise values and cash flows, the company
currently invests in Western Europe. The acquisition of QBC 1,2 & 7
follows the strategy of adding attractive real estate investments in
established markets with a strong long-term economic outlook. The
Company has confidence in the stability of Vienna's prime office rents,
sees significant growth potential of city's property markets, and
believes that the addition to the EPH portfolio will create long-term
value for its shareholders.
EPH is managed by Valartis International Ltd. a wholly owned subsidiary
of Valartis Group AG. Additional information on EPH European Property
Holdings is available by contacting Anna Bernhart Tel: +41 44 503 5400
or at contact@europeanpropertyholdings.com.
Attachment
-- 201230_Closing Acquisition QBC 1,2 & 7 Vienna Austria
https://ml-eu.globenewswire.com/Resource/Download/7a4fdb5e-d226-4f0a-a54a-cf5b586c2f17
(END) Dow Jones Newswires
December 30, 2020 01:00 ET (06:00 GMT)