- “Pohlgasse 26” sold to GalCap Europe for 28.65 million euros
- “Successful inner-city redensification and attractive location”.
Vienna, 15.09.2021. At the end of August, the residential project “Pohlgasse 26”, developed by UBM Development together with Invester United Benefits, was handed over to a fund managed by the investment company GalCap Europe. GalCap is a real estate investment manager focusing on Austria and Central and Eastern Europe. The property in Vienna Meidling, which consists of 121 privately financed rental apartments and 1,950 square meters of retail space, was sold for 28.65 million euros in a forward deal.
Successful, attractive and fair
“Pohlgasse is a prime example of successful inner-city redensification with an attractive location at decidedly fair prices and excellent infrastructure provided by a long-standing retail partner,” explains Gerald Beck, Managing Director of UBM Development Austria. “All of this has made Pohlgasse an attractive investment property. Due to our long-standing partnership with GalCap, we have found an investment partner who will take great pleasure in this investment for many years to come.”
Michael Klement, CEO of Invester United Benefits: “Due to its mixed-use concept and excellent location, the Pohlgasse project is an exciting development project and also an attractive investment property. We are very pleased that we have succeeded in getting this project off the ground together with UBM.”
Manfred Wiltschnigg, Managing Partner of GalCap Europe: “Institutional investors have always valued residential real estate as a stabilizer in the portfolio. In the course of the pandemic, the security factor has become even more important. Mixed-use rental space – especially as here with long-term leases in the retail part – in modern developments in good locations are in extremely high demand. We are therefore all the more pleased to be able to add this property, which was completed on schedule and is already almost fully let, to our fund.”
Excellent location
The residential complex with a total of 121 privately financed rental apartments is characterized not only by the excellent location and good infrastructure in the immediate vicinity, but also by a large landscaped courtyard, which also features a children’s playground. On the ground floor there is a modern Billa market and Meidlinger Hauptstraße, the fifth largest shopping street in Vienna, is also right outside the door. The project is just a 5-minute walk from Meidling train station, one of the central train hubs in Vienna. The subway is also easily accessible by foot.
UBM Development develops real estate for Europe’s metropolises. The strategic focus is on green building and smart office in major cities such as Vienna, Berlin, Munich and Frankfurt. With almost 150 years of experience, UBM offers all development services from a single source, from planning to commercialization. The shares are listed on the Prime Market of the Vienna Stock Exchange, the segment with the highest transparency requirements.
Invester United Benefits is an independent initiator, developer and asset manager of unique real estate projects in Central Europe. The company has set itself the goal of creating a platform for innovative real estate projects in the retail, hotel and residential asset classes and enabling sustainable return opportunities for investors. Invester currently manages a project volume of around 1.5 billion euros and employs 40 people. More information at www.invester.at
For further inquiries please contact:
Karl Abentheuer
Head of Corporate Communications
UBM Development AG
Tel.: +43 (0)50 626 5677
Mob.: + 43 664 136 34 23
Email: karl.abentheuer@ubm-development.com
Christoph Rainer
Head of Investor Relations
UBM Development AG
Mob.: + 43 664 626 3969
Email : christoph.rainer@ubm-development.com
Invester United Benefits GmbH
Email : presse@invester.at
GalCap Europe / Instinctif Partners
Sonja Hübner T: +49 (0)173 611 50 60
Email: sonja.huebner@instinctif.com
