S IMMO AG acquires Zagrebtower

Corporate news

The listed real estate investment company S IMMO AG has purchased the Zagrebtower office complex in Croatia’s capital from the Austrian company CA Immobilien Anlagen AG (CA Immo).

The complex was completed in 2007 and consists of a 22-storey, 79 metre office tower with a connected nine-storey low-rise building and has a total area of roughly 26,000 square metres, which is fully let out. The tenants include the Croatian Ministry of Economy and Sustainable Energy, the pharmaceuticals conglomerate Bayer, and the financial auditors Deloitte. Zagrebtower is located in the eastern business district, which represents one of the most highly sought-after locations in Zagreb together with the central business district. The property offers excellent connections to the public transportation system, meets high sustainability standards and has a BREEAM Excellent certificate. This acquisition is a fitting expansion of the company’s portfolio in Zagreb, joining two further high-quality office properties at prime locations – Eurocenter and HOTO Tower.

“The acquisition of Zagrebtower is the logical continuation of our commitment in the capital of Croatia. The market is developing very well, and demand for state-of-the-art offices has risen briskly in recent years. Together with the office properties that are already part of the S IMMO holdings, this complex will enhance our CEE portfolio and make a key contribution to earnings,” noted Friedrich Wachernig, member of the S IMMO AG’s Management Board, pleased about the deal.