Union Investment sells Vienna’s “Rund Vier” office complex to Thalhof Immobilien

Union Investment has announced the sale of its “Rund Vier” office complex, a landmark property in Vienna’s Viertel Zwei district, to Austrian real estate firm Thalhof Immobilien. Formerly part of Union Investment’s open-ended real estate fund, UniImmo: Deutschland, the ÖGNI Gold-certified complex has been a long-standing asset in the portfolio. The transaction price remains confidential per an agreement between the parties.

“Rund Vier,” designed by renowned architects Henke Schreieck, is a distinctive office complex comprising four uniquely shaped buildings, with a total rental area of approximately 25,000 square meters. Its prime location in Viertel Zwei — one of Vienna’s top business districts — offers seamless access to the U2 underground line and proximity to the Vienna University of Economics and Business, while also bordering the recreational Prater park.

The sale marks the end of a successful 15-year holding period during which the property generated consistent returns for UniImmo: Deutschland. “This was a strategic decision to optimize our portfolio by reducing our office exposure,” explained Alejandro Obermeyer, Union Investment’s Head of Investment Management DACH.

The transaction was facilitated by brokerage firm ZOECHLING RE. Union Investment was advised on legal matters by Schönherr Rechtsanwälte and on tax issues by TPA, while Thalhof Immobilien received legal support from Tiefenthaler Gnesda Rechtsanwälte and tax guidance from BDO Austria.

This deal reflects Union Investment’s continued focus on refining its portfolio and Thalhof Immobilien’s growing presence in Vienna’s office market.