Wolf Theiss has advised Aachener Grundvermögen in its first real estate investment in Austria. The German company is purchasing a commercial property on St Stephen’s Square, Vienna for one of its real estate funds. The property will be transferred in April 2017.

Wolf Theiss was responsible for the due diligence, negotiating and concluding the purchase agreement as well as closing the entire purchase of the property.

Counsel Stefan Weishaupt led and coordinated the entire transaction.

The Wolf Theiss team further consisted of partner Peter Oberlechner and associate Iris Riepan. On behalf of Aachener Grundvermögen, in-house lawyers Bianca Aymans-Werle and Alexander Schroer advised in the transaction.

Founded in 1973, Aachener Grundvermögen is a financial investment management company headquartered in Cologne, Germany. The company acquires and manages real estate for legally independent investment funds.

The company focuses its investments on top-rated retail areas located in the city centres of selected locations in Germany and Europe. It currently manages 16 real estate investment funds with a total volume of €6.3bn for exclusively institutional investors.