Schoenherr advises Deka Immobilien on purchase of Austria’s tallest hotel and office building

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 per cent of the shares will be allocated to the Deka-ImmobilienGlobal portfolio and 40 per cent 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.