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DORDA advises on Real Estate Purchase from DEKA

Tuesday, 1 August 2017

Stefan Artner, partner and head of the Real Estate Desk, and Klaus Pfeiffer, attorney and specialist in real estate transactions, advised a subsidiary of Reitenburg GmbH on the acquisition of the A1 Telekom Austria site at Obere Donaustraße in Vienna's prominent second district. The seller is investment company Deka from Frankfurt am Main, which had owned the building since the 1990s and rented it to several tenants, including A1. The transaction volume totals 82 million euros.

The Viennese office market remains dynamic and popular. The attractive site with more than 31,800sqm of floor space grants our client many options for development. This transaction had been excellently prepared and professionally planned, so we were soon on the finish line.”, says Stefan Artner, managing partner and head of the Real Estate Desk at Dorda.

Stefan Artner and Klaus Pfeiffer, real estate attorney at DORDA, jointly advised their client Reitenburg.

Artner and his team had already advised S-Immo AG on a previous real estate transaction with Deka. Deka Immobilien is a subsidiary of the DekaBank Group, the largest provider of open-ended real estate funds in Germany.

DORDA is a leading law firm in Austria advising in all areas of business law. The firm’s most recent highlights in the real estate sector include advising logistics developer Log4Real on its market entry into Austria. Furthermore, the real estate team advised ARE, a subsidiary of Bundesimmobiliengesellschaft (BIG), on the acquisition of the office building Denk Drei in the development area "Viertel Zwei" in Vienna, the US financial investor Lone Start on the acquisition of the Balkan real estate group Centrice from HETA, as well as Raiffeisen Leasing and SIGNA on the structuring and sale of the office & retail building RIVERGATE to a Canadian-Asian Group – which was the second largest real estate deal in Austria in 2016. In addition to real estate law, M&A, banking and capital markets, the firm's core practice areas comprise corporate law, insolvency law and restructuring, as well as tax law, competition/antitrust law, employment law, public law, IT and IP.

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