Repositioning of an existing office building in a Vienna
Repositioning of an existing office building in a Vienna prime location into residential and serviced apartments. Application has already been submitted and the building permit for the extension and conversion was granted. Project includes conversion from office to residential or serviced apartments
- Repositioning of an office property into residential and serviced apartments
- IRR (levered) – circa 38%
- Debt Required circa Euro 22.0M
- Equity/Preferred Equity Required circa Euro 7.3M
- Sponsor is an investment manager, innovation driver and impact investor for real estate
- Sponsor active in residential, office, hotel, retail in Germany and Austria
- Sponsor is guided by the objective of exclusively implementing sustainable projects with a positive impact