The property will become part of an open-ended special property fund focused on Austria, which is administered by Hansainvest Hanseatische Investment GmbH as a regulated capital management company for services.
“Almost exactly 12 years after our first retail park purchase in Austria, we are delighted to have made another attractive investment. It successfully brings the number of retail purchases we have made in the country to a total of 19 shopping and retail parks, boasting a total volume of around €560 million. Furthermore, this contemporary annex in Mühldorf creates new synergies that enhance our successful retail park there,” emphasized André Zücker, Managing Director of KGAL Investment Management GmbH & Co. KG, who is responsible for the real estate asset class.
The retail park is located in southeast Styria, on the outskirts of Feldbach, the district capital. Since opening in 1999, the park has enjoyed successful development and has become established as a high-footfall destination for local amenities. It has been made even more attractive by the annex, which was completed in 2017. Both tenants in the new block – retail chains Müller and Colloseum/Forever18 – have offerings that generate additional footfall for the retail park. The annex was sold by Austrian Rutter Immobilien Group.