Bank Austria, part of the Unicredit Group, has provided financing for Cimit Holding's acquisition of a portfolio of 53 residential and commercial buildings in Vienna. The EUR 110 mln transaction is one of the largest real estate acquisitions signed this year in the Austrian capital.

The buildings are distributed throughout the city, and 75% of the 100,000m2 total lettable area is residential.

'This financing is an important stimulus for the Vienna real estate market and shows that apartment buildings are still an attractive long-term investment. Overall, we see growing interest among investors for commercial properties in Vienna,' said Reinhard Madlencnik, head of Real Estate at Bank Austria.