Europa Capital has signed an agreement to sell OCG2, the second and final phase of its Office Campus Gasometer development in the Simmering district of Vienna for around EUR 75 mln. The buyer is Bank Austria Real Invest.

The 28,400-m2 office building provides office space leased to a number of leading national and international companies including Nokia Siemens Networks, Fujitsu, LG Electronics, Wiener Wohnen, ILS Consult, and Merz. It also has 436 car spaces and storage facilities on two underground levels. The asset is owned by the Europa Fund.

OCG1, the first phase, was developed by Europa Fund, let on a long lease to StatistikAustria and sold to an Austrian institution on completion in 2004.

'Having conceived and created an attractive investment in terms of building quality, occupier profile and tenant diversity, we are pleased to have concluded this transaction with Bank Austria Real Invest,' said Erik Ruane, partner and head of development at Europa Capital.

Europa Capital is a real estate fund management company part of The Rockefeller Group.

RED Real Estate Development was development manager of OCG2.

EMCV Management Consulting and DLA Piper Weiss-Tessbach advised the Vendor. BAR bareal Immobilientreuhand inter-mediated on the transaction.