Schoenherr has advised real estate investment company Deka Immobilien on the 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. Closing took place on 6 July 2017 and the parties have agreed not to disclose the purchase price.
Since its completion in 2013, DC Tower 1 has impacted Vienna's skyline with its distinctive and impressive design. The tower was designed by the leading French architect Dominique Perrault. Measuring 250 m 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 m2 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 Michael Lagler (partner, real estate); Arabella Eichinger (counsel, real estate); Serap Aydin (associate, real estate) and Franz Urlesberger (partner, eu & competition).
Fellner Wratzfeld & Partner Rechtsanwälte - Dr. Markus Fellner (team lead); attorney Dr. Gerd Leser, MBA (corporate / m&a) and associate Mag. Matthias Herzog - advised on the sell-side.
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