S IMMO acquires Vienna Twin Towers

S IMMO concluded the purchase of the Twin Towers on Wienerbergstrasse in Vienna from IMMOFINANZ AG. Considered among Vienna’s most renowned office towers, the Twin Towers comprise a gross lettable area of about 66,000 sqm, were recently valued at €194 million and generate rental income of €12.6 million per year.

Herwig Teufelsdorfer, member of the Management Board of S IMMO AG, commented: “We are proud to add these excellent office properties to S IMMO’s portfolio in our home market of Vienna. This purchase will make a positive contribution to our earnings and is consistent with our portfolio optimisation strategy.”