Eastern Property Holdings Ltd announces the suc...

28 February 2019, Road Town, Tortola, BVI

Eastern Property Holdings (“EPH” or the “Company”) announces the acquisition of 100% of the office property in Am Belvedere 4, 1100 Vienna, Austria.

The Headquarter of BDO is a newly constructed Class A office property in the attractive and sought-after Quartier Belvedere in Vienna and in close proximity to the newly constructed main station of Vienna. The property comprises an approx. gross floor area of 20,000 sqm with approx. 70 parking spaces and is fully let. 

The property has been acquired on market terms with a reputable main tenant, full occupancy, a very good location and a high quality of the asset. The parties to the transaction agreed not to disclose the acquisition price to the public. The transaction price has been financed approx. 50/50 with equity and debt. 

Executing on the ongoing strategy to diversify the portfolio across European markets, which was announced in 2014, EPH is convinced that it is the right time to add attractive real estate investments in stable Western European markets to the Company’s current portfolio. Austria remains one of the most stable and safe real estate markets in Europe and benefits from its growing strong economy, positive outlook on private consumption, low unemployment, with Vienna being the key market for investments. The Company is furthermore convinced of the long-term sustainability of the property performance. As a result, EPH believes that the stable economy of Austria together with the sustainable property creates long term value for the Company’s shareholders. 

The Headquarter of BDO is EPH’s first real estate investment in Austria.  

This transaction follows the strategy of the Company to focus on investments in premium quality income producing commercial property assets in Europe. Given its key investment parameters such as good location, impressive architectural design and reputable tenants, the acquisition of the BDO Headquarter will further diversify the Company’s portfolio and strengthen sustainability of its long-term performance.

The acquisition has been advised by DORDA's Real Estate Practice Group for legal support, TPA Steuerberatung for financial & tax support and Drees &Sommer for technical support. 

Eastern Property Holdings Ltd. is an investment company listed on SIX Swiss Exchange which holds interest in office, residential and retail properties. EPH is managed by Valartis International Ltd. a wholly-owned subsidiary of Valartis Group AG. 

Additional information on Eastern Property Holdings is available by contacting Anna Bernhart Tel: [phone].

Attachment

• EPH Press Release Acquisition BDO