TH Real Estate sells “Star Center” in Leoben
Baker McKenzie Vienna advises on sale of the retail and entertainment center
TH Real Estate has sold the retail and entertainment center Star Center in Leoben to private investors. The center was built in 2000 and is located near the old town district of Leoben. It offers a leased area of approximately 8000 square meters and its anchor lessees include well-known names such as Lidl, Deichmann, dm, Pagro or Libro as well as the cinema center Cineplexx.
The building is part of the special funds administered by Warburg-HIH Invest Real Estate, with TH Real Estate acting as an asset manager for these funds. Baker McKenzie was responsible for the legal implementation of the transaction. Stephan Größ, Partner of the Vienna office, has advised on transactions for the real estate special funds for more than eight years, including inter alia the sale of the outlet center Galerien Parndorf. The sale of the Star Center was structured as a share deal, the purchase price was kept confidential.
“The legal challenge of the transaction was to provide the securities required by the purchaser and the bank,” states Stephan Größ.
The real estate team of Baker McKenzie in Vienna has built up an excellent reputation not only in the areas retail, hotels, resorts, and tourism, Baker McKenzie is also one of Austria’s leading law firms in the field of urban development thanks to its real estate team, as proven by the long-standing work for the Vienna city district Seestadt Aspern.
Legal advisor to TH Real Estate: Baker McKenzie
Lead: Real Estate: Dr. Stephan Größ (Partner, Vienna)
Other attorneys involved: Real Estate: Mag. Michaela Koch (Junior Associate, Vienna), Mag. Roman Jatzko (Junior Associate, Vienna)