TH Real Estate Sells Two Commercial Properties in Wiener Neudorf, Austria
The international law firm Baker & McKenzie has advised TH Real Estate on the sale of two commercial properties in Wiener Neudorf. The purchaser of the two commercial properties in Wiener Neudorf is Bena Business Center GmbH.
Both properties are located in Austria's largest business park, the Industriezentrum Niederösterreich Süd. Both the Ricoweg property and the Gewerbestraße property comprise a warehouse and an office wing. Taken together, they have a rental area of almost 9,000 square meters. "In this transaction, we had to reconcile a tight time schedule with increased hedging requirements of the purchaser," Stephan Größ states. The Partner at Baker & McKenzie's Vienna office headed the Real Estate team advising in the transaction.
The two properties were part of the Austrian fund Österreich Fonds Nr. 1, which includes retail, office and logistics properties. Other properties sold with the assistance of Baker & McKenzie in the past include, e.g., Galerien Parndorf and Telfspark in the Tyrolean Oberland. TH Real Estate, one of the world's largest real estate asset managers, regularly uses the advisory services of Baker & McKenzie also when purchasing properties for the Österreich Fonds Nr. 2.
The Real Estate team of Baker & McKenzie's Vienna office also provides ongoing advice for "Aspern Seestadt", the largest urban development project in Central Europe.
Legal advisor to TH Real Estate: Baker & McKenzie
Lead: Dr. Stephan Größ (Partner, Vienna)
Other attorneys involved: Dr. Franz Arztmann (Associate, Vienna),
Mag. Katrin Himberger (Associate, Vienna),
Mag. Michaela Koch (Junior Associate, Vienna)