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Schoenherr and FWP Advises on Sale of Tallest Office Building in Austria

Schoenherr and FWP Advises on Sale of Tallest Office Building in Austria

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Schoenherr has advised real estate investment company Deka Immobilien on its acquisition of DC Tower 1 in Vienna, the tallest hotel and office building in Austria, from a UniCredit Bank Austria AG subsidiary. Sixty percent of the shares will be allocated to the Deka-ImmobilienGlobal portfolio and forty percent to the Deka-ImmobilienEuropa portfolio. Fellner Wratzfeld & Partner advised UniCredit on the deal. Closing took place on July 6, 2017 and the purchase price was not disclosed.

Schoenherr reports that, "since its completion in 2013, DC Tower 1 has impacted Vienna's skyline with its distinctive and impressive design." According to the firm, "the tower was designed by the leading French architect Dominique Perrault. Measuring 250 meters in height, DC Tower 1 is a modern landmark of the capital city. The tower houses among others the four stars plus Hotel Melia Vienna. The property has 74.500 square meters of flexible, high-quality hotel and office space, as well as more than 60 stories and 355 parking places. DC Tower 1 was one of the first Austrian office buildings to be constructed and furnished in line with the EU Commission's energy and environmental criteria for a 'Green Building.'" 

The Schoenherr team advising Deka Immobilien consisted of Partners Michael Lagler and Franz Urlesberger, Counsel Arabella Eichinger, and Associate Serap Aydin.

The Fellner Wratzfeld & Partner team was led by Partner Markus Fellner and included Attorney Gerd Leser and Associate Matthias Herzog.

Image Source: skyscrapercenter.com

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