When Paris meets Vienna
Frasers Property Industrial, a multinational real estate company active in Asia, Australia and Europe, has sold its Austrian portfolio "4Urban" to BNP Paribas Real Estate Investment Management (Reim). The "share deal" involved four logistics and warehouse properties.
CBRE acted as broker in this transaction, which, now completed, gives BNP Paribas 100% of the shares in the portfolio. "4Urban" comprises one property in Graz, two sites in Vienna and one facility near Vienna Airport. The properties total 71,000 sqm of space and tenants include Fedex/TNT Express (Austria) and TLC Logistik Graz.
After this successful sale, Frasers Property Industrial intends to focus its investments in Europe primarily on properties in key markets in Germany and the Netherlands in future. (sh)
www.fraserspropertyindustrial.com