The real estate asset and investment manager GalCap Europe has acquired a fully let existing property in Vienna. The acquisition took place as part of an off-market transaction and serves to expand the residential property portfolio for an individual mandate of a pension fund. The property is located at Raxstraße 2 in Vienna's 10th district, Favoriten, a dynamic urban area.
Completed in 2015, the residential complex comprises a total of 155 residential units across a total living area of approximately 12,450 square metres. In addition to the flats, a doctor's surgery is integrated into the ensemble. The underground car park offers 151 parking spaces for cars and 13 for motorcycles. The modern, U-shaped building ensemble shields a generously landscaped inner courtyard, creating a quiet residential environment with a high quality of stay and a children's playground for residents.
The apartment mix focuses on well-planned two- and three-room flats. All units feature private outdoor areas such as balconies or loggias, which further enhances the quality of living. The average apartment size is approximately 80 square metres. Heating and hot water are supplied via the Vienna district heating network, which is reflected in favourable energy certificate values and underlines the property's future-oriented design.
Location and Accessibility
The Raxstraße 2 location is in Vienna's most populous district and is characterised by its excellent transport links. Several bus routes provide access to the U1 underground line in just a few minutes, enabling quick connections to Vienna city centre; Stephansplatz can be reached in under 30 minutes. Future improvements in accessibility are expected with the planned extension of the U2 underground line.
In addition to the urban infrastructure, the nearby recreational areas of Wienerberg and Laaer Berg offer a high quality of life and leisure in the immediate vicinity. The combination of good connectivity and natural recreational opportunities contributes to the attractiveness of the location. The parties have agreed to keep the purchase price and the identity of the seller confidential.
Strategic Classification
Marco Kohla, Managing Partner at GalCap Europe, commented on the transaction. He emphasised that prime investments remain available in Vienna even in a challenging market environment. Crucial for this are a keen eye and direct market access. His company's transaction strength and speed of execution make a significant difference in this regard. With the acquisition in the 10th district, the fund secures another substantial, high-yield residential complex with significant future and development potential.
- —Legal advice: Dorda Rechtsanwälte
- —Tax advice: TPA Steuerberatung
- —Technical advice: DELTA
