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Austria: Commerz Real Capital Management has invested a new-build apartment development in Vienna from S+B Gruppe and i Live Group.
It has acquired the 378 serviced apartments for the Commerz Real Institutional Smart Living Europe Fund. The Viehmarktgasse 4 building is located in Vienna’s Landstrasse district in the Sankt Marx quarter.
Operator i Live will manage the 11-storey residential building under its new Rioca by i Live brand, following the completion of the development which is expected to be in Q3 this year.
The open-ended fund targets student accommodation and micro-apartment complexes in European cities and university cities on behalf of professional and semi-professional investors.
