S IMMO acquires office property in Zagreb

Corporate news
  • HOTO office tower with a lettable area of around 15,000 m² was acquired in Zagreb
  • Attractive central location and excellent connection to public transportation
  • Diversified tenant structure – e.g. pharmaceutical group Pliva and office center operator Regus
  • Immediate revenue generation

Again, S IMMO AG was active in the CEE region and has acquired the almost fully let office building HOTO Tower in the Croatian capital Zagreb from the Austrian SIGNA Group. The distinctive 60-meter-high office tower is characterised by its prominent location along the Savska Cesta in the southwest of the Central Business District (CBD). The HOTO Tower offers a lettable space of approx. 15,000 m² on 15 floors and 249 basement parking spaces. Owing to the high occupancy rate at the time of acquisition, the office property will immediately contribute to revenue generation.

Friedrich Wachernig, Member of S IMMO AG’s Management Board, comments: “For quite a while, we have been looking for a suitable property in order to expand our portfolio in the Croatian market. We are convinced that the acquired HOTO Tower is a prime property with long-term potential for increasing value. Hence, strengthening our presence and sustainably increasing the importance of Zagreb as an investment location for S IMMO.”