Union Investment has successfully sold the Doppio Offices in Vienna to an Austrian holding company. The office property, located at Rinnböckstrasse 3, had been part of the portfolio of the open-ended mutual property fund immofonds 1 since 2016. This fund is exclusively marketed in Austria. The sale was completed profitably, although the parties have chosen not to disclose the transaction price. “The office property provided stable income for the fund throughout the eight years it was held. As part of our strategy to slightly reduce the office ratio in our portfolio, we have sold the asset,” said Alejandro Obermeyer, Head of Investment Management DACH at Union Investment. Completed in 2012, the Doppio Offices is situated in Vienna’s 3rd district, close to the city centre. The building offers approximately 8,000 square meters of rental space across eight upper floors and two basement levels, along with 76 parking spaces. It benefits from excellent connectivity, with direct access to various public transport options, including the underground, trams, and buses. The property is also conveniently located near the A4 motorway leading to Vienna Airport and the A23 southeast ring road. Union Investment received legal and tax advisory support from Vavrovsky Heine Marth Rechtsanwälte and tpa Austria during the transaction.