TOOLS
Login to access your documents and resources.
Confirm your location
location select
language select
Terms of use, privacy and cookie policy
Accept to continue
News

Nuveen Real Estate sells Austrian retail park to international insurance group

Strip mall parking lot
02 Jun 2020  
  • Sale of the Pannonia retail park from a special vehicle managed by Warburg-HIH Invest Real Estate
  • Located in Neusiedl, Austria, with a total rental space of c. 8,200 sq m (c. 88,264 sq ft)
Nuveen Real Estate, one of the largest investment managers globally, has sold the FMZ Pannonia retail centre in Neusiedl, Austria, to international insurance firm, ERGO Versicherung AG. The ERGO Versicherung in Austria is part of the ERGO Group AG, headquartered in Düsseldorf, Germany.

The property was acquired in 2006 on behalf of a special strategy managed by Warburg-HIH Invest Real Estate, for which Nuveen Real Estate is the asset manager.

FMZ Pannonia is located in Neusiedl am See, about 50 km southeast of Vienna. It is located near the exit of the A4 motorway, at the entrance to the centre of Neusiedl, and is in the immediate vicinity of the McArthurGlen Outlet Centre in Parndorf.

The building has a total rental area of approximately 8,200 sq m (c. 88,264 sq ft), with anchor tenants including Penny, Tedi, DM, Takko, Pearl, Ernsting's Family, My Shoes, Zoo Center, Bank Austria, and a pharmacy.

"Our active asset management for the Pannonia retail centre has created a robust tenant mix with strong rental conditions, which helped to create significant of interest in the property among investors and ultimately resulted in a sale at a competitive price", commented David Moese, Managing Director of Nuveen Real Estate in Austria.

Nuveen Real Estate was advised by the team of Dr. Stephan Größ, Partner of EY Law Pelzmann Gall Rechtsanwälte, and brokered by EHL Immobilien Consulting GmbH.
Press office
Nuveen n logo on a blue background
All press enquiries
Notes to Editors
This press release is intended for trade press only. Please do not redistribute.

Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority.

Nuveen Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services.

Nuveen Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). Nuveen Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or Nuveen Alternatives Advisors LLC a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, member FINRA.
Footer Arc Background

Discover

Our Company

The information contained on this website is provided for educational purposes only and is not intended to be relied upon as a forecast, research or investment advice, is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. YOUR CAPITAL IS AT RISK. All financial investments involve an element of risk. Therefore, the value of the investment and the income from it will vary and the initial investment amount cannot be guaranteed. 

Products, services, or strategies shown may not be available in certain jurisdictions and/or to certain investors. Recipients should inform themselves about and observe any applicable legal requirements. The information provided should not be considered a solicitation or an offer by Nuveen or its affiliates to provide any financial products or services in any jurisdiction where it is not otherwise authorized to do so. Any funds described herein are not for sale in the US or to US persons and are available under the conditions of the relevant offering document(s). If you are a US citizen or resident, please visit our website for US Financial Professionals or US Institutional Investors. Nuveen provides a range of products including investment advisory services, strategies, and expertise through its independent investment affiliates. Securities are offered through Nuveen Securities, LLC.

© 2023 Nuveen, LLC. All rights reserved.

PPS-1181865PM-E0520X

Back to Top