Vienna-based investment and asset manager GalCap Europe has acquired two office and laboratory properties in Vienna from German investment company WealthCap: Vienna Bio Center II and Vienna Competence Center are each located in well-established research and development clusters in the third and ninth district of Vienna. GalCap Europe was advised on the purchase by Otto Immobilien GmbH and the seller by EHL Immobilien. After conducting several acquisitions in Budapest, Vienna Bio Center II and Vienna Competence Center are GalCap Europe’s first acquisitions in Vienna.
Vienna Bio Center II is located in the 3rd district near St. Marx at the Campus Vienna Bio Center, one of the most dynamic and innovative business locations in Vienna. The building comprises 4,300 sqm for office, laboratory and storage use. Currently the multi-tenant property is rented to leading research companies.
Vienna Competence Center is located in the 9th district of Vienna, a micro location known for its high density of medical and university facilities. The property comprises 5,800 sqm of office, laboratory and warehouse space. The multi-tenant property is also rented to leading research and medical companies.
GalCap Europe was founded by Dr. Manfred Wiltschnigg, Marco Kohla and Paul Hallam in 2015. The well-established company has been specializing in investment and asset management in Austria and the CEE region. Main clients include German pension funds, insurance companies, family offices and Anglo-Saxon private equity funds, for which GalCap Europe is active as local partner in the region.
The acquisition of these two properties is another important step in building up a portfolio, according to Dr. Manfred Wiltschnigg, Managing Partner of GalCap Europe. “By acquiring Vienna Bio Center II and Vienna Competence Center, we secured two very attractive, well-established properties offering a clear profile, a great location and highly satisfied tenants. We will continue to optimize the properties, both technically and commercially in order to ensure a sustainably high cash return for the future. The two assets are ideal examples for our investment approach: we purchase good, prosperous properties, not long-term lease contracts. “
Christoph Lukaschek MRICS, Head of Investment at Otto Immobilien GmbH: “We are very pleased to advice GalCap Europe with a buy-side mandate during its first acquisitions in Vienna. Since owners are willing to sell existing properties even in the current market conditions, GalCap Europe had excellent timing in acquiring the two properties in prime locations in Vienna. ”
Vienna, on May 2nd, 2018