Cerha Hempel has advised ARE Austrian Real Estate on the acquisition of an office and hotel building in Vienna from Generali Real Estate. Schoenherr advised Generali.
ARE Austrian Real Estate specializes in office, residential, and development properties. Its portfolio comprises around 583 existing properties and around 35 projects under development.
According to Cerha Hempel, “the building is in an attractive location between the Sonnwendviertel and the established cluster of office buildings at Vienna’s main railway station. With around 9,200 square meters of floor space, the property’s tenants include the Federal Finance Academy of the Federal Ministry of Finance, a hotel with 40 rooms connected to the adjacent building, as well as a Billa supermarket, and a branch of Oberbank.”
Cerha Hempel’s team included Partners Mark Krenn and Heinrich Foglar-Deinhardstein, Counsel Jakob Hartig, Attorney at Law Marko Vladic, and Associates Johanna Kaschubek and Christoph Stingeder.
Schoenherr’s team included Partner Michael Lagler and Associate Markus Buchleitner.
