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Eversheds Sutherland advises Real I.S. on the acquisition of “Wien Westbahnhof A3” in central Vienna for German pension funds

  • Germany

    23-01-2018

    Eversheds Sutherland has advised Real I.S. on the acquisition of the fully-let commercial property, “Wien Westbahnhof A3”, in a share deal for approximately 110 million euros on behalf of three German pension funds. The sellers are the shareholders of ACRON Wien West A3 S.A., a single-asset public limited company of Zurich-based ACRON Group which is specialized in real estate investments.

    The mixed-use “Wien Westbahnhof A3” commercial property is located in the central shopping area and is characterized by a multi-tenant structure which is broadly diversified across three different asset classes. The long-term general tenant of the 8,870 square meters shopping area is the railway company Österreichische Bundesbahnen (ÖBB); the first five floors above (approximately 10,780 square meters) are operated as a hotel with 441 rooms by Motel One. On the sixth and seventh floor, there are various office units measuring approximately 5,360 square meters.

    Real I.S. Group is BayernLB’s fund provider specialized in real estate investments with an asset portfolio of around 7.7 billion euros and ranks among the leading asset managers in the German market. The Real I.S. Group has two licensed investment management companies (KVGs) established under the German Investment Code (KAGB) and operates subsidiaries and offices in France, Luxembourg, Spain, the Netherlands and Australia.

    Eversheds Sutherland advised Real I.S. with an international team from Germany, Austria and Luxemburg on all aspects of the complex transaction, including real estate, investment and project management.

    The Eversheds Sutherland team which advised on the transaction was led by partner Thomas Ziegler (Munich), and further included: Dominik Sailer (Real Estate), Jennifer Hock (Real Estate Finance, both associates, all Munich), Carola Rathke (partner), Dietrich Wagner, Thomas Tüllmann (both counsels, all Fund Structuring and Regulatory, Hamburg), Georg Röhsner (partner, Real Estate), Manuel Boka (principal associate, Corporate, both Vienna), Holger Holle (counsel, Corporate, Luxemburg).

    In Luxemburg, Eversheds Sutherland was furthermore supported by a team from MNKS comprised of Saskia Myners, Anna Gassner and Jean-Philippe Smeets (all Corporate). A team of Mazars (Michael Rinas and Daniel Krisch) advised on all aspects of tax law.

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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