Investika Real Estate Fund has entered the Austrian real estate market by acquiring a light industrial and office asset with an interesting sustainability profile near Vienna Airport.
The Fund acquired the CAE Aviation Training Centre for over €30 million from Propel Industrial Holding, an independent real estate investment boutique active in Austria, Germany, and the Netherlands. The centre is located near Vienna International Airport in Schwechat with direct connection via the A4 motorway to the centre of Vienna. The prime light industrial and office asset with 8,077 sqm GLA was prepared as a built-to-suit project for the Canadian company CAE Inc., the world´s leader in the aviation industry.
The technologically advanced building consists of two parts: the office one and the industrial one, with clean operation. It is used as a training centre for professional pilots on specialised aerial transporters, plus it provides a base for the training staff.
The timber framework was used in its construction. The property runs on the modern BMS system. It has been saving energy by using the installed LED lighting and will use alternative sources of energy (photovoltaic panels to be installed on the roof). The rainwater is being collected and reused. There is a parking area with 88 lots and chargers for electric cars. The asset has been undergoing the ÖGNI Gold certification process now.
„The stable rental income from this property helps achieve Investika Real Estate Fund´s target return of 4 – 6 % p.a. for its investors,“ commented Jaroslav Kysela, Member of the Board of Directors at Investika, investiční společnost (investment company), which is managing Investika Real Estate Fund. He added that this transaction was a role model for further acquisitions and growth in Austria.
