ZBI Zentral Boden Immobilien Group completed the acquisition of Karntner Strasse 1 tower from KS Group.

ZBI Zentral Boden Immobilien Group, an offeror of a residential real estate market with strengthening participation, longevity, and commitment, completed the acquisition of Karntner Strasse 1 tower from KS Group, a supporter of projects in the commercial and industrial sectors as well as large residential construction projects. Financial terms were not disclosed. “Entering a project development of this size and quality in the current market situation means actively taking advantage of opportunities to expand the portfolio in terms of returns and sustainability. The development of the project as part of a joint venture, in which we act as co-developer and long-term owner and have an established and innovative partner at our side, represents another strategic milestone for us in Austria,” Christian Reißing, ZBI Group Chief Development Officer.