Successful advice from the home office: DORDA supported Warburg-HIH Invest in the sale of an office property in Vienna
DORDA's real estate law experts supported Warburg-HIH Invest Real Estate (Warburg-HIH Invest) in the sale of a multi-storey office building in Vienna-Simmering, with a floor area of around 14,000 square metres, to a Luxembourg real estate fund.
Vienna, 24 March 2020 – DORDA partner and head of the real estate practice group Stefan Artner advised the German Warburg-HIH Invest Real Estate (Warburg-HIH Invest) on the sale of the office property in Vienna acquired in 2015. He was supported by the associates Agnes Beck and Markus Buchleitner. The sale took place in a limited bidding process. The transaction was concluded in the form of a share deal.
The eight-storey office building was constructed in 2002 and offers a total area of about 13,830 square meters and 147 additional underground parking spaces. It is located in the eleventh district of Vienna, at Brehmstrasse 14, and is thus conveniently situated near the so-called Gürtel, the motorway A23 Südosttangente, and Vienna's main railway station. The main tenant is the Republic of Austria (Federal Ministry of Finance). The average lease term is roughly ten years.
Achieving the goal through strategy
"We made the strategic decision to sell, as the current positive market environment enabled us to achieve an increase in value compared to the total investment costs at the time of acquisition at the end of 2015", explains Matthias Brodeßer, Head of Transaction Management International at Warburg-HIH Invest.
"We are very pleased that – despite the current corona crisis situation – we were able to successfully close this transaction with our long-standing client Warburg-HIH Invest. We would like to thank everyone involved for their flexibility and cooperation in the transaction during these challenging days," says Stefan Artner, who heads DORDA's multi-award-winning real estate practice group. "The increasing importance of digitalisation and legal tech in the handling of transactions is once again becoming apparent."
About Warburg-HIH Invest
Warburg-HIH Invest Real Estate (Warburg-HIH Invest) from Germany is a leading investment manager for real estate in Europe. With ten locations in Europe, it develops real estate and investments throughout the continent and is able to identify real estate opportunities early on and implement them timely thanks to vast experience, proximity to real estate markets and an excellent network.
DORDA is a leading law firm in Austria, advising in all areas of business law. In addition to Corporate, M&A, real estate and tenancy law, banking and capital markets law, the firm's practice areas comprise insolvency law and restructurings as well as dispute resolution, tax law, competition/antitrust law, employment law, public law, data protection, IT, IP, and media law.