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DORDA advises on sale of OMV headquarters for S IMMO AG

Datum: 
Thursday, 31 August 2017

DORDA real estate experts Stefan Artner and Magdalena Brandstetter advised S IMMO AG on the sale of the two office buildings “Hoch Zwei” and “Plus Zwei” to German real estate investment company Deka Immobilien. The buyer, DEKA Immobilien GmbH, is a subsidiary of DekaBank Group, one of the largest providers of open-ended real estate funds in Germany. The buildings with more than 43,000 sqm are headquarters to the Oil & Gas company OMV. The deal was closed today, 31 August 2017, after approval by the Austrian Competition Authorities. The purchase price of more than EUR 200 million exceeded the original price paid by S IMMO in 2010 by EUR 75 million.

Stefan Artner, managing partner and head of the Real Estate Desk at DORDA, on the transaction: “We have been trusted advisors to S-Immo regarding most of their major Austrian transactions for several years. Therefore, we were also involved in the purchase of this landmark building and have since then been able to follow the successful development of the site. Now, advising again on the sale, we were able to contribute to the successful marketing of the two prestigious buildings.” Artner continues: “The real estate market in 2017 is very dynamic. My team and myself, we are delighted to work on many of the leading deals also during this year.”

Ernst Vejdovszky, chairman of the Executive Board of S IMMO AG, comments: “With the successful sale of ‘Viertel Zwei’ we profited from the high price level in the Vienna market, thus acting once again in line with our cycle-oriented strategy. Thanks to the support of Stefan Artner and his team, who accompanied us right from the acquisition of this project, we wrapped up the sale most professionally and efficiently.”

The seller, S IMMO AG, is an Austrian listed real estate company investing exclusively in the European Union with a focus on capital cities in Austria, Germany and CEE. S IMMO AG was advised by DORDA managing partner Stefan Artner and real estate attorney Magdalena Brandstetter. M&A Treuhand advised on all tax aspects of the transaction.

DORDA is a leading law firm in Austria advising in all areas of business law. The firm recently advised on the takeover of the A1 headquarters on Obere Donaustrasse. Furthermore, the Real Estate team has been acting for leading real estate companies such as ARE, a subsidiary of Bundesimmobiliengesellschaft (BIG), in its acquisition of the office property “Denk Drei” in Vienna’s “Viertel Zwei” district. DORDA also provided legal advice to US financial investor Lone Star regarding its acquisition of Balkan real estate group Centrice from HETA, as well as to Raiffeisen Leasing and SIGNA on the structuring and sale of RIVERGATE to a Canadian/Asian consortium. The latter was the second largest real estate deal in Austria last year. 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, IT/IP and data privacy as well as dispute resolution, tax law, competition law, employment law, public law.



© 2017 · DORDA

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