The 88,000-square metre office building was purchased from Signa Development Selection on behalf of seven Allianz companies.
Due for completion in Q2 2018, the three blocks have direct access to the Wiedner Gürtel railway station and Vienna’s underground networks.
Allianz will assume ownership of the property in Q4 2018. CMS, EHL and Galleon Capital advised Allianz on the deal.
Annette Kröger, CEO of Allianz Real Estate, Germany, said: "Following its completion, the Icon will become an architectural landmark. In addition to the inner city area, the market for offices located near the central station is the new office hotspot in Vienna.”