Union Investment acquires Vienna retail park from Nextensa

Hamburg-based asset and investment manager, Union Investment, has purchased the Gewerbepark Stadlau retail park in Vienna from Brussels-based real estate company Nextensa for €36 mln.

Gewerbepark Stadlau in Vienna

This acquisition marks Union Investment's second in a short period, following a two-year hiatus from real estate market investments, and further acquisitions are anticipated this year.
The retail park, situated in Vienna's bustling Donaustadt district, was originally constructed as a DIY store in 1996. It underwent a significant renovation and expansion in 2016, transforming into a retail park with nearly 11,000 m² of fully leased space. Its anchor tenants include prominent brands such as TK Maxx, Intersport, Lidl, and dm.
Union Investment was drawn to Gewerbepark Stadlau due to its prime location in a rapidly growing area with high foot traffic, its full occupancy, and its strong tenant mix. The company also anticipates future value appreciation from planned urban development projects and a new pedestrian and cycle bridge set to open in 2026.
With this acquisition, Union Investment's Austrian retail real estate portfolio now exceeds 20 properties, valued at approximately €500 mln. The firm continues to actively seek new investment opportunities, particularly in food retail and retail park segments.
For Nextensa, this asset deal aligns with its strategy to optimize its real estate portfolio and pursue its sustainability goals.
Roman Müller, head of Investment Management Retail at Union Investment, stated: “With this purchase, our retail real estate portfolio in Austria has increased to over 20 properties with a value of around €500 mln. This makes Union Investment one of the leading asset and investment managers for retail properties in Austria. We are continuing to actively seek investment opportunities for the mandates we manage, preferably retail parks and food retail.”
Felix Brandt, investment manager Retail at Union Investment, added: “The grocery-anchored retail park in Stadlau ideally meets our investment criteria: the dominant retail agglomeration is located in a dynamically growing district with great development potential. The urban development projects that have been completed and are planned, as well as the direct connection via a new footbridge and cycle path bridge from 2026, underline the attractiveness of the location and offer sustainable opportunities for value appreciation.”
Union Investment was advised by Schönherr Rechtsanwälte, TPA and EHL, among others, Nextensa by Saxinger Rechtsanwälte and EY.