Warburg-HIH Invest sells shopping center to Semper Constantia for EUR 32 million

Baker & McKenzie advised Warburg-HIH Invest on the sale of the retail park Alt Erlaa. The shopping center in Vienna's south had been owned by Warburg - Henderson Österreich Fonds Nr. 1 since 2005. Within the scope of the planned disinvestment of the fund, it was now sold to Semper Constantia Immo Invest GmbH, a subsidiary of Semper Constantia Privatbank, for about EUR 32 million.

The object, measuring about 20,000 square meters, is fully rented out. Principal lessees are Interspar, DM, Deichmann, Wurstinger Bowling and Club Danube.

After the sale of the retail park, two office properties and three retail properties remain in the portfolio of Österreich Fonds Nr. 1. Baker & McKenzie also advised on the sale of inter alia Galerien Parndorf or Telfspark in Tyrolean Oberland. Stephan Größ, Head of Vienna's Real Estate team, advises Warburg-HIH Invest on purchases and sales of Austrian commercial real estate on a regular basis. "The Alt Erlaa transaction was characterized by a tight time frame. We had to solve special issues arising at short notice at the interface of public law and technology," Größ explains.

The Baker & McKenzie Real Estate team in Vienna also provides ongoing advice to "Aspern Seestadt", the largest urban development project in Central Europe.

Legal advisor to Warburg-HIH Invest Real Estate GmbH: Baker & McKenzie

Lead: Dr. Stephan GröB (Partner, Vienna)

Other attorneys involved: Dr. Franz Arztmann (Associate, Vienna),
Mag. Katrin Himberger, Mag. Michaela Koch (Junior Associates, Vienna)