Real estate in Austria

DORDA Rechtsanwälte GmbH

DORDA Rechtsanwälte GmbHComparative Guides promotional icon is a regular fixture on major real estate transactions in the Austrian market, acting for a wide range of national and international real estate and construction companies alongside investors and funds. This overlap between real estate and construction is reflected in the team's composition: in addition to the real estate practice, Stefan Artner also heads the construction group and is therefore a key contact for real estate M&A and tenancy law as well as development projects. He shares this interdisciplinary approach with Magdalena Brandstetter, who made partner in February 2021. The group's transactional work spans office, residential, logistics, retail and portfolio transactions. Tenancy law advice is another cornerstone and the team acts for landlords and tenants.

Practice head(s):

Stefan Artner

Testimonials

Team stability, culture of fairness and professional excellence, very good cross-border and cross-firm collaboration.

Stefan Artner: Truly a leader in real estate; responsive, understands foreigner’s needs.

Magdalena Brandstetter: Up-and-coming real estate lawyer.

Tibor Varga: Excellent real estate finance lawyer.

In Austria we rely on DORDA’s advice and really enjoy working with them. They always give us practical advice and on time, even if the deal is very complex or our request is urgent or the issue needs additional explanation due to local market practice. We also see that DORDA’s reputation in the market is excellent – we see them in most top real estate transactions in Austria.

A major point for us as a client is that the team keeps the commercial aspects of a transaction in mind and is always keen to get the best possible deal for the client without overcomplicating the matter. From an external perspective, we have seen the company evolving over the past years with new partners (such as Magdalena Brandstetter) and further associates. Also diversity is a major concern for our company and we find it important, that our partners – such as DORDA’s real estate team – also practice diversity in day-to-day business.

Our main contact at DORDA is Stefan Artner. He is the one you want to have at your side when it gets critical. He knows the market in detail, is a quick thinker in negotiations and very reliable. Stefan always advises quickly and in detail. Definitely the no.1 lawyer for me in Austria.

Deep market insight and great understanding of the business they advise on.

Key clients

AEW Invest GmbH, AEW Europe

aik Immobilien-Investmentgesellschaft mbH

AIRA Development Group

Amundi S.A

ARE Austrian Real Estate

Ascott International Management, Europe

Bundesimmobiliengesellschaft (BIG)

Deka Immobilien

DLH (Deutsche Logistik Holding)

East Guardian Group

European Property Holdings

Exeter Property Group

GalCap Europe

Helvetia Versicherungen AG

KGAL

MaxMara

NH Hoteles

NTT Group

ÖAMTC

Patrizia AG

S IMMO AG

Swietelsky AG, Swietelsky Bau GmbH

TK Maxx

UBM Development AG

Universal-Investment Luxembourg

Warburg-HIH Invest Real Estate

Work highlights

  • Advised ARE Austrian Real Estate GmbH on its Austrian-German joint venture with UBM Development AG and real estate developments in Vienna and Munich respectively.
  • Advised S IMMO AG, UBM Development AG on the sale of two office towers and an adjacent garage building in Quartier Belvedere (QBC) to European Property Holdings.
  • Advised the German financial investor Warburg HIH Real Estate on the acquisition of the SQUARE One Building, an office and retail complex in Vienna, from developer STRABAG Real Estate.

DSC Doralt Seist Csoklich Rechtsanwälte GmbH

DSC Doralt Seist Csoklich Rechtsanwälte GmbH stands out for its transactional real estate expertise, which has recently translated into an increasing number of forward purchase instructions, but the team is equally well placed to assist with tenancy matters and real estate disputes. This offering attracts real estate funds, real estate development and investment companies in particular, who routinely instruct the team led by Wilfried Seist on matters in the retail, residential and logistics space but the group also covers other asset classes and plot transactions. Associate Nina Mitterdorfer is a key contact for residential development project-related contract management.

Practice head(s):

Wilfried Seist

Other key lawyers:

Nina Mitterdorfer

Testimonials

DSC is the best organised and most competent practice I had the pleasure to work with. Their service is devoted and supremely professional.’

They have the best understanding of their clients and the clients’ requirements – especially of institutional investors.’

Their troubleshooting as well as their conflict management capabilities (balance of cooperation and confrontation) are also exceptional. Besides, they are widely respected among other practices. The different base contracts they developed are very helpful and timesaving.

The standard transaction structure we are using was developed by DSC, reduced costs significantly.

The responsiveness and prompt processing of tasks has been key. Furthermore, the reputation and standing of the firm within the Austrian real estate market must be seen as a significant benefit in dealing with other parties and/ or firms.

In conjunction with the brilliant economical understanding and the knowledge of the market development, I have no doubt that the service level is way above the usual expected within the market.

Key clients

Bank Austria Real Invest Immobilien-Kapitalanlage GmbH

LLB Immo Kapitalanlagengesellschaft m.b.H.

BNP Paribas Real Estate Germany GmbH

UniCredit Leasing (Austria) GmbH

Accor Hotelbetriebs Gesm.b.H.

Wealthcore S.C.S., SICAV-RAIF

ECE Projektmanagement GmbH & Co KG

Raiffeisen Holding Niederösterreich-Wien Reg. Gen.m.b.H.

CA Immobilien Anlagen AG

Akron Real Estate Management GmbH

Universale Internationale Realitäten GmbH

Wiener Städtische Versicherungs AG

Auris Immo Solutions GmbH

Work highlights

  • Advised LLB Immo Kapitalanlagesellschaft m.b.H., an open-ended Austrian real estate fund, on the acquisition of the retail park Kittsee2.
  • Advised BNP Paribas Real Estate Investment Management Germany GmbH in connection with its acquisition of the residential premises Danube Flats Bauteil II by way of a forward funding deal.
  • Advised Bank Austria Real Invest Immobilien-Kapitalanlage GmbH in connection with the acquisition of new residential premises in Vienna in the form of a forward funding deal.

Schoenherr (Schönherr Rechtsanwälte)

Following an interdisciplinary approach, Schoenherr (Schönherr Rechtsanwälte)'s combined real estate and construction team jointly led by managing partner Michael Lagler and Peter Madl is well equipped to provide full-service real estate assistance. This routinely includes financing advice (including green and sustainable financing) alongside corporate and transactional real estate. The transactional space is an area of particular expertise for both practice heads and constitutes a key strength of the practice. It spans various asset classes with Arabella Eichinger, who was promoted to equity partner in February 2021, being a key contact for office, residential and hotel sector instructions. This expertise is called upon by real estate developers and investors in particular, and extends to non-transactional work such as lease agreements. Counsel Clemens Rainer is another key contact for corporate real estate.

Practice head(s):

Michael Lagler; Peter Madl

Testimonials

The collaboration between associates and partners and even between practices seems to be well organised. Availability and timing was never a problem.

Arabella Eichinger is exceptional in feeling responsible for a transaction not only in legal, but also in terms of negotiation, contact to other parties and management. Advice on Austrian law is always precise and always leads to solutions.

Highly skilled coherent team, great team spirit, with a focus on getting deals done. This makes a big difference to other law firms since a lot of those just give notice about risks but no solutions. Schoenherr’s team is doing exceptionally well in bringing both worlds together. Legal knowledge, risk avoidance but also solution and deal-orientation.

Arabella Eichinger is not only an exceptional legal advisor but a “deal engine” which brings together both sides of the table. Her solution orientation is highly valued in the Austrian real estate industry.

The team seems to be very efficient in their working style and answers any requests within a short time. The team doesn’t focus on the problem but on the solution – extremely solution-orientated. In contract negotiations they try to understand both sides (for example buyer and seller) and negotiate in a fair and equal way.

The lawyers of Schönherr are always available and have a deep understanding of the real estate business.

They are excellent lawyers and negotiators and are deal-oriented, which is most important! Quite a strong team and always to the point.

Clemens Rainer: Top network, top knowledge, quick understanding of difficult tasks. Amazing effort even in small cases. Brilliant expertise.

Key clients

UNIQA Real Estate

S IMMO AG

GARBE Industrial Real Estate GmbH

Europa Capital Partners LLP

Commerz Real

GALCAP Europe

BIG Bundesimmobiliengesellschaft

ARE Austrian Real Estate GmbH

Trivalue Beteiligungs GmbH

Tishman Speyer Investment Management GmbH (TSIM)

ERGO Versicherung AG

Red Bull GmbH

Bauconsult Energy GmbH

Bank Austria Real Invest

KTB Investment & Securities

Invester

Eastern Property Holdings

WestInvest Gesellschaft für Investmentfonds mbH

Hallmann Holding International

BVK

Swiss Life

Tscherne

Unger Unternehmensgruppe

Opec Funds for International Development (OFID)

GBI

Savills Investment Management (Germany) GmbH / Institutional Investment-Partners GmbH

Österreichischer Rundfunk (ORF)

Union Investment

Art-Invest Real Estate Funds GmbH

Hamburg Trust / Gal Cap

Ennismore Holdings

Work highlights

  • Advised Swiss Investor Eastern Property Holdings Limited on the indirect acquisition of office buildings and an underground parking area at Quartier Belvedere Central in Vienna from UBM Development AG / S-Immo AG.
  • Advised Bauconsult Energy GmbH on the development of a new low-energy residential building that will be 100% self-sustaining, generating power using geothermal and photovoltaic energy.
  • Advised Commerz Real Kapitalverwaltungsgesellschaft (KVG) on the purchase of a residential complex under construction in Vienna with 378 serviced apartments.

Wolf Theiss

Wolf Theiss‘s real estate and construction team has a strong profile for transactional work in the CEE and SEE regions and, thanks to its cross-departmental cooperation, is well placed to handle associated financing, tax, construction, regulatory and contentious matters. Erik Steger, who has substantial residential and hotel sector experience, Karl Binder, who, as the firm’s private client group co-head, also acts for wealthy individuals and family offices, and Peter Oberlechner are among the key contacts for real estate transactions. Binder also handles real estate project finance and has recently advised on project developments in the IT space. Birgit Kraml is another key member of the team and combines her transactional expertise with litigation capabilities, which has recently translated into several Covid-19-related rent reduction disputes between landlords and tenants. Clients include real estate investors, developers, retailers, energy companies and public sector players.

Testimonials

I have found that Wolf Theiss goes above and beyond the level of service typically required of a law firm. Not only are they excellent lawyers but they are also astute business advisors and very effective collaborators. They have been critical to our projects in Austria.

Karl Binder provides an exceptional service. I have complete confidence in his legal abilities and am grateful for his willingness to always go the extra mile to help meet our objectives. A pleasure to deal with.

Wolf Theiss is one of the leading law firms in Austria. They have many competent lawyers and an all-encompassing law practice for commercial issues. We have decided to work with them mainly due to individual lawyers there, in particular Peter Oberlechner and Birgit Kraml.

We work predominantly with Birgit Kraml (and various associates). Very intelligent and smart, hands-on, clear legal advice, cost-conscious and commercial. Birgit Kraml identifies the issues and draws very clear conclusions and recommendations. Can be reached 24/7. Very well known for real estate deals in Austria.

Very good real estate expertise in Austria, also covering Slovenia. Good transaction practice for real estate investments.

Peter Oberlechner is a very experienced lawyer, very good and longstanding transaction experience in the office and logistics sectors.

Very good team, one-stop-shop when it comes to real estate, with an international investor mindset and approach.

Peter Oberlechner is outstanding. Always calm and solution-oriented.

Key clients

Unibail-Rodamco-Westerfield

ZBI Zentral Boden Immobilien Gruppe

Cellnex S.A.

ÖBB

Government of Lower Austria

Adient

Katharo Ventures

KELAG

OBI

ISG Limited

JP Immobilien

Falkensteiner Hotels

Morgan Stanley Real Estate Fund

Radisson

Wiener Linien (Vienna Transport Authority)

Work highlights

  • Advised Unibail-Rodamco-Westfield (URW) on the sale of a 45% stake of Austria’s largest shopping centre Shopping City Süd (SCS) to Crédit Agricole Assurances.
  • Advised the open public real estate AIF UniImmo: Wohnen ZBI on the acquisition of a sustainable new development project with 250 apartments including underground parking in Vienna.
  • Advised Cellnex Telecom S.A. on the acquisition of around 4,500 cell phone locations across Austria. The acquisition was part of a pan-European transaction and the first of its kind in Austria.

Vavrovsky Heine Marth Rechtsanwälte

Vavrovsky Heine Marth Rechtsanwälte guides clients through the entire lifecycle of real estate projects, which, in addition to the team's focus on real estate transactions, includes construction-related matters and real estate disputes. With transactions expert Christian Marth in the lead, the team has a strong track record acting for Austrian open real estate funds alongside international funds and investment managers; other clients include public sector bodies and retailers. Its work covers various asset classes and has recently included a significant number of forward purchase and forward funding deals, most notably in the residential sector.

Practice head(s):

Christian Marth

Testimonials

The team’s know-how and experience across the real estate spectrum is remarkable. They are extremely good at transactions, solving issues in no time. Also very noteworthy: Their efficiency, analytical skills and commitment to the client’s interest.

Nikolaus Vavrovsky is an outstanding real estate specialist with great business sense. His precision and positivity are exceptional. Seeing all angles and having long-term vision, he is brilliant with tactics, which makes him an indispensable advisor and the partner to have by your side.’

Vavrovsky Heine Marth is my first pick among Austrian real estate firms. They are impressively strong in all essential areas which makes them a one-stop-shop meeting all our needs.

Christian Marth and his team excel in competence and client service. They are an impressive, energetic unit, creative in their approach, working fast and coming up with solutions that fit their client’s needs. Whatever the issue, however complex a matter, they guide you smoothly through it all – in national as well as in cross-border matters.

Christian Marth is among the best real estate lawyers I have encountered. His refined legal expertise, commercial awareness and great business instincts make him an invaluable advisor who never loses sight of the big picture and always thinks ahead. Christian is efficient, eloquent, proactive and extremely strategic. In negotiations he is very constructive and strong. Even when things get heated, he stays calm and unshakable. He is the lawyer to have by your side to get a deal through – I am happy to rely on his judgement.

The team’s transaction know-how, efficiency, and responsiveness are remarkable. Each and every team member is completely dedicated to their clients. They are precise, practical and economic in their way of approaching matters. Also, the team is highly flexible. The value for money is excellent.

Nikolaus Vavrovsky is a superb real estate lawyer, very deal-oriented, very commercial. His approach is analytical and efficient. No matter how complex, he keeps the reins firmly in his hands, always has his clients’ business objectives at heart, is efficient and forward thinking. This makes him an invaluable strategist and trusted advisor. Also, he is a tremendous negotiator and extraordinary communicator.

Technically very competent, very fast in finding solutions.

Key clients

Real One Group

REInvest Asset Management S.A.

Auris Immo Solutions GmbH

Bank Austria Real Invest Immobilien Kapitalanlage GmbH

Corpus Sireo Real Estate

ERSTE Immobilien Kapitalanlagegesellschaft m.b.H.

GalCap Europe

Ing. Hans Bodner Baugesellschaft mbH & Co KG

LLB Immo Kapitalanlagegesellschaft m.b.H. (Liechtensteinische Landesbank)

Nuveen LL.C.

Siemens AG Österreich

UBM Development Österreich GmbH

Union Investment Group

Work highlights

  • Advising a leading asset manager and developer of corporate real estate in Germany on the acquisition of a portfolio of office and logistics real estate properties in and around Vienna.
  • Advising REInvest Asset Management S.A. on the sale of a historic building in central Vienna to Imfarr Group via a share deal.
  • Advising GalCap Europe on three acquisitions of office, logistics, laboratory and residential properties in Vienna.

Cerha Hempel

Cerha Hempel regularly assists real estate companies, developers and investors with sizeable real estate developments across the hotel, retail, office, logistics and residential (including student housing) sectors. Its expertise in the last-mentioned segment has recently led to a number of forward purchase and forward funding transactions, while other typical instructions are construction-related. This offering is complemented by expertise in lease and management agreements - which has recently been called upon by shopping centre and supermarket operators - alongside real estate litigation such as rent and eviction litigation. Team head Peter Vcelouch has a specialism in construction-related work.

Practice head(s):

Peter Vcelouch

Testimonials

‘We appreciate the firm’s deep knowledge in both corporate and real estate law, especially when it comes to real estate transactions (in particular share deals). What we have recognised is the firm’s strong network in the real estate sector.’

‘The real estate team of CERHA HEMPEL shows a great level of empathy for our needs and implements our desired solutions without any compromise, no matter what it takes.’

Besides outstanding legal knowledge you will benefit from a high degree of transaction experience, giving you access to alternative solutions for stuck situations.’

They also cover new issues affecting the real estate industry such as the EU Taxonomy, which many competitors seem not to care about.’

‘We regularly work together with Mark Krenn, in particular in transactions in the CEE region. Mark is a highly experienced transaction lawyer, who has lifted transaction management to a new level. We very much appreciate his negotiation skills as a real bonus. Most important, he is very easy to work with and flexible; you can always expect him to be available when needed. Besides, you can discuss legal topics also on a non-billable basis with Mark.’

‘Mark Krenn: Extremely good collaboration, full commitment to his customers, fully represents the customer in front of other parties, highly experienced, full trust.

‘CERHA HEMPEL responds very quickly and offers a very wide field of expertise. Their network in SEE and CEE countries, which are quite important markets for us, is excellent.’

‘Mark Krenn and his team offers excellent work in our real estate transactions. He points out the legal issues but at the same time offers solutions, which also consider economic factors. With his team he can also cover other languages (Croatian, English, Slovenian, Hungarian etc.).’

Key clients

Value One

SES Spar European Shopping Centers

numa group

S Immo

AVEST Immobilien

VALORE Immobilien

LifeNet Health

ARE/areos development

Aberdeen Standard Investments

CA Immo

eyemaxx real estate group

BUWOG

ÖRAG

Heta Asset Resolution AG

Lidl Österreich

KWPS / AMISOLA Immobilien AG / NOVOREAL Immobilieninvest AG / ESTRELLA Immobilieninvest AG

ACRON

Raiffeisen Property International

VGP European Logistics

Work highlights

  • Advising numa group GmbH on its expansion in the Austrian hospitality market including assistance with lease agreements and hotel management agreements.
  • Advised a listed fund managed by Aberdeen Standard Investments on the acquisition of a residential development project in Vienna encompassing more than 300 apartments.
  • Providing Lidl Österreich with ongoing advice on several real estate development projects and real estate acquisitions pertaining to new shop locations in Austria.

E+H Rechtsanwälte GmbH

E+H Eisenberger + Herzog handles all aspects of the acquisition, sale and development of retail, office, hotel, logistics and residential properties, including plot and portfolio transactions, with a particular focus on residential sector transactions. The team's transactional capabilities are not least based on team head Alric Ofenheimer's expertise in this space and are regularly called upon by real estate investment companies, developers and family offices.

Practice head(s):

Alric Ofenheimer

Testimonials

‘Especially their know-how of complex cross-border transactions as well as their reputation on the market are outstanding.’

‘Alric Ofenheimer is one of the senior partners. We appreciate his availability by phone, his know-how as well as that he presents specific solutions to even complex legal questions in a short period of time. He is also a tough and skilful negotiator.

Key clients

Three Seas Initiative Investment Fund

STC-Swiss Town Consult AG

Hamburg Trust

Immola Liegenschaftsverwertung und Projektentwicklungs GmbH

Volvo Group Austria

Work highlights

  • Lead counsel to Immola Liegenschaftsverwertung und Projektentwicklungs GmbH, advising on the development and sale of a residential property in Graz; this included the structuring of the forward sale and the structuring of the future development.
  • Advised STC-Swiss Town Consult AG as lead counsel on the acquisition, development and sale of a residential project in Vienna.
  • Advising the German real estate investment and asset manager Hamburg Trust on the acquisition of the newly constructed residential project Siemensstraße in Vienna from Eyemaxx Real Estate AG.

Saxinger, Chalupsky & Partners (SCWP Schindhelm)

With offices in Vienna, Graz, Linz and Wels, Saxinger, Chalupsky & Partners (SCWP Schindhelm) has a strong regional footprint and attracts real estate developers, property (portfolio) owners and investment companies. Led by real estate M&A and real estate finance expert Immanuel Gerstner, the team is well placed to assist with a wide range of matters arising from the acquisition, sale, financing and development of real estate (including plot transactions) across various asset classes. This offering is complemented by Jana Seywald's tenancy law expertise, which has recently led to several Covid-19-related instructions. Real estate disputes are typically handled in conjunction with the firm's dispute resolution practice.

Practice head(s):

Immanuel Gerstner

Testimonials

‘The SCWP team provides high-quality work, fast and efficient results. They are always available for us- even on weekends. Very fast reaction time.’

They cover all areas of real estate law. Specifically, they have broad experience in large-scale transactions.’

The team is very dedicated and provides excellent services.’

The real estate practice of SCWP stands out because they deliver incomparably good results with a highly experienced team. They understand our commercial needs and the trends of the industry. Pricing is reasonable – very good value in comparison to other law firms.’

‘We mainly work with Irene Meingast and are very happy with her. She handles all our legal real estate issues (transactions, tenancy law, construction issues, real estate-related disputes). She has deep knowledge of what she does and always goes into every legal detail.’

Irene Meingast translates complex legal concepts into understandable advice. She is very reliable, goal-oriented and always enthusiastic about finding a solution that works for us. We have not seen any other Austrian lawyer with such commitment for the client.’

‘We work with a team consisting of Irene Meingast, Immanuel Gerstner and Lukas Leitner. Immanuel Gerstner is excellent in negotiations and is highly experienced in handling complex transactions. He heads the real estate practice in Vienna. Irene Meingast and Lukas Leitner have been working with him for a very long time. You can see that they work very efficiently as a team and can handle large-scale transactions and very complex issues. They have a solution-oriented view and a hands-on mentality. We feel very comfortable working with them.

Key clients

Soravia Group

IFA Institut für Anlageberatung

Primevest Capital Partners

UBM Development GmbH

IES Immobilien Gruppe

W-One Capital GmbH

Lambert Immobilien GmbH

PMI Immobilien und Beteiligungs GmbH

Mazda Rainer Group

MVTE private foundation, part of IES Group

Leasinvest Real Estate SCA

Ima Immobilien GmbH

Anwone Group

Work highlights

  • Advising the Rainer Group, owner of one of the largest non-institutional commercial real estate portfolios in Vienna, on the €38m sale of a property to Microsoft for the construction of a Microsoft data centre.
  • Advising the Soravia Group on the sale of the Austro Tower to a German institutional real estate investor via forward deal.
  • Assisting IFA Institut für Anlageberatung with the acquisition of the property Residenz Mayburg from the Panquadr.at Group.

Binder Grösswang

With M&A expert Markus Uitz co-heading the team with banking and finance specialist Tibor Fabian, Binder Grösswang's real estate group receives regular instructions from real estate investors, developers and owners alongside corporates and private clients to assist with real estate transactions but the team is also adept at handling tenancy law matters. Its transactional work spans various asset classes and has recently included a number of healthcare sector instructions.

Practice head(s):

Markus Uitz; Tibor Fabian

Testimonials

‘Markus Uitz and his team are great! They know their stuff! Clear and helpful advice always.’

‘Markus Uitz is great.’

‘Binder Grösswang is a rather big association with experts in most legal fields. The teams cooperate regularly to provide comprehensive legal advice.’

‘Markus Uitz: has a good sense for the practical implementation of legal concepts.’

‘Great team, responsive and commercially driven.’

‘Markus Uitz is a young partner with a high level of expertise – great availability.’

Key clients

voestalpine AG

Raiffeisen Property International GmbH

GIC

Indorama Ventures Public Company Limited

Smurfit Kappa Nettingsdorf

Travel Partner Group GmbH

VB Real Estate Services GmbH

CORESTATE CAPITAL Fund Management S.à.r.l.

The Blackstone Group Inc.

Leasinvest Real Estate

Five Guys

P3 Logistic Parks s.r.o.

UBM Development

SeneCura Kliniken- und HeimbetriebsgmbH

Frey Invest GmbH

Ennismore International

Work highlights

  • Advising Swiss real estate investor CORESTATE Capital on the acquisition of the third TrIIIple tower as part of a forward purchase deal.
  • Advising UBM Development on the sale of its housing project in Vienna’s Nordbahnviertel urban housing project.
  • Assisted Central Group / KaDeWe with the establishment and ongoing restructuring of a joint venture with SIGNA (in the course of which Central indirectly acquired 50% in the real estate) to transform the former Leiner flagship store at Vienna’s main shopping street Mariahilfer Straße into a premium department store.

BRAND Rechtsanwälte GmbH

BRAND Rechtsanwälte GmbH's combined real estate and construction law expertise translates into a steady stream of instructions from institutional investors requiring assistance with commercial real estate transactions - which are frequently led by Birgit Harasser - alongside contentious and non-contentious commercial and residential real estate matters from developers. Recently, the team, which Harasser co-heads with Gabriele Brand-Ogris, has also been increasingly active in the asset management space, most notably in Covid-19-related rent relief and lease agreement matters.

Testimonials

‘Their legal expertise is excellent, they are quick, responsive and partner led in the best sense. This means we have one partner as a single point of contact for every query. We are not referred to different team members for billing etc. , they deal with this in-house and we receive answers from our partner contact. This also means that any answers are vetted by the partner in charge, who knows our business, the market and has the whole picture, and we always receive high-quality advice.

Their excellent legal know-how is matched with a pragmatic hands-on approach.

They provide us with to-the-point analysis, clear recommendations and solutions for any legal issues we have.’

‘Birgit Harasser is our point of contact and has been for many years. She is very experienced in transactional work and handles transactions smoothly with a clear solution-oriented approach.’

Birgit Harasser’s legal know-how is excellent and her business-oriented approach and willingness to go the extra mile make her stand out. She knows our transactions inside out, even after years and is always ready to help out with her knowledge.’

Key clients

Raiffeisen Immobilien KAG

Pandorf Fashion Outlet

ADIDAS Group

Blaue Lagune

Danube Property Immobilien

Work highlights

  • Advised Raiffeisen Immobilien KAG on the acquisition of a residential real estate project in Graz as a forward funding share deal.
  • Advised Union Investment Real Estate Austria on the sale of a retail centre in Klagenfurt.
  • Advising GCA on the development and sale of cabanas on the Danube river bank.

CMS Reich-Rohrwig Hainz Rechtsanwälte GmbH

CMS Reich-Rohrwig Hainz Rechtsanwälte GmbH demonstrates particular strength dealing with matters at the intersection between real estate and construction, which is also where team head Nikolaus Weselik's expertise lies. Typically, this leads to instructions on the sale and acquisition of real estate and plots of land marked for construction on the one hand, and lease and tenancy-related matters on the other. Much of its recent work in the latter space pertains to Covid-19-related lease agreements and tenancy disputes. Instructions span various asset classes with particular expertise in the hotel sector. The firm is a Ökoprofit company certified by OekoBusiness Vienna which is testament to its commitment to improve its environmental balance sheet.

Practice head(s):

Nikolaus Weselik

Testimonials

‘Fast reaction, appointments are always kept.’

‘Good experience, good backup for negotiations, positive mindset – not seeking problems.’

‘No-nonsense and hands-on mentality.’

‘Available when needed and also able to come up with solutions.’

Key clients

Allianz Real Estate Germany GmbH

Central European University (CEU)

Kur- und Sporthotel Lebenberg GmbH

MLP Group

PrimeVest / Hansainvest

Work highlights

  • Advised Kur- und Sporthotel Lebenberg GmbH on the sale of its shareholding and continues to advise the company on protecting its ownership interests.
  • Advising the Polish MLP Group on the acquisition and development of a plot of land for the construction of the logistics and business park MLP Business Park Vienna in Vienna-Stadlau.
  • Advising the Central European University on the refurbishment of the client’s headquarters.

Grama Schwaighofer Vondrak Rechtsanwälte

Grama Schwaighofer Vondrak Rechtsanwälte's close cooperation with the firm's corporate group in particular translates into regular transactional mandates across various asset classes from financial institutions, funds and real estate companies, which complements its project development work. Andreas Schwaighofer heads the group and handles a wide range of contentious and non-contentious real estate matters.

Practice head(s):

Andreas Schwaighofer

Other key lawyers:

Georg Zacherl

Testimonials

‘The firms’ flat command structure ensures quick reactions to our needs. Therefore, what we value most is the high responsiveness of all partners and associates. Highly recommended.’

‘What is outstanding indeed is the broad area of expertise of Andreas Schwaighofer in real estate law. We appreciate his deep knowledge in both law-related issues and the real estate sector in general.’

‘They provide good assistance during negotiations. Flexibility in preparing contract documents.’

‘Reachability, good knowledge of the market.’

‘From my point of view, it is a unique practice. The team combines a pragmatic approach with excellent academic knowledge, which is very important in our business. They understand the need of a client based on a profound economic understanding. Personally, I want to mention that I always received swift and competent responses.’

‘We work with Georg Zacherl and Andreas Schwaighofer: Both of them are experienced lawyers and both have an extensive knowledge in real estate.’

‘Personally, I felt very comfortable working with such highly qualified and competent lawyers. Andreas Schwaighofer has extensive knowledge both in property law as well as in tenant law.’

‘Georg Zacherl combines his know-how in property law with his experience in corporate law.’

Key clients

VERBUND AG

Accelerate Property Fund

F. LIST GMBH

Hypo NOE Group

BUWOG Group GmbH (Vonovia group)

Pearle AT

Asset One Immobilienentwicklungs GmbH

Immowert Group

MEFUNDUS GmbH

Collins Property Projects (Pty) Ltd

Real I.S. AG

Work highlights

  • Advising Marina Tower, a joint venture of BUWOG Group and IES Group, on the establishment of freehold flats and the sale of apartments in Vienna.
  • Advising Real I.S. on the acquisition of the 99.5% leased office building TownTown CB 06 for the open-ended mutual fund REALISINVEST EUROPE from Commerz-Real by way of a share deal.
  • Advising the South African fund Collins Property Projects (Pty) Ltd on the acquisition of six OBI locations from Supernova Group by way of a share deal and under accompanying restructuring and financing measures.

KWR Karasek Wietrzyk Rechtsanwälte GmbH

Best known for its strong construction practice, KWR Karasek Wietrzyk Rechtsanwälte GmbH is well equipped to assist with real estate matters at this intersection such as project development-related work including associated disputes. Much of this has recently come from the residential sector but the team also covers other asset classes. Key contacts include Paul Schmidinger (large-scale infrastructure projects and real estate transactions), Jan Philipp Schifko (international real estate projects and transactions), who both made partner in December 2020, and Clemens Berlakovits, who handles a wide range of real estate and construction law work. Clients include institutional investors and developers.

Testimonials

‘The KWR team is characterised by excellent cooperation in all legal matters relevant in construction projects. The interaction between procurement and contract experts works extremely well.’

‘Everything regarding construction law, real estate law and general private law is handled by this law firm. Billing is fair.’

Clemens Berlakovits and Vinzenz Waldhof are my sparing partners for all sorts of negotiations regarding legal issues. And there are many in real estate… Each member of Mr Berlakovits’ team is a brilliant lawyer.’

‘Clemens Berlakovits and Vinzenz Waldhof form a brilliant team. The support we are getting from KWR is fantastic. I could not wish for more!’

‘Great experience; highly profound knowledge with practice-relevant tips.

‘Clemens Berlakovits provides quick and uncomplicated solutions for various topics; outstanding expertise.’

Vinzenz Waldhof: Outstanding expertise; very good support as well as solution-oriented, practical and rapid processing of tasks.

‘Efficient and knowledgeable as well as personally committed. Well connected too.’

Key clients

Pretia GmbH

ROX Group

Schönhaus-Group

Handler Group

WT 80 Gruppe

ARE

CAIM Holding/ ORCADO Group

Haring Group

Mooons Group

Fourreal-Group

BVAEB

Caritas Wien

Kollitsch & Reichstamm

Alpin Rentals-Gruppe

Work highlights

  • Advising the Mooons Group on the sale of Hotel Moons in Vienna to a German joint venture.
  • Providing ongoing advice to the WT 80 Group; recently this included advice on the purchase of a plot in Vienna, the development of a medium-sized residential project in Burghausen, Germany, the development of a business area in Tutzing, Germany and the completion of an extension of an ongoing hotel project in Vienna.
  • Assisting CAIM Holding and the joint venture partners ORCA and Haring Group with the forward sale of a housing project in Vienna.

Nemetschke Huber Koloseus Attorneys at Law

Nemetschke Huber Koloseus Attorneys at Law has real estate development work at its core and demonstrates particular expertise in the residential sector. In this space, Alexandra Huber has recently assisted developers and investors with transactional and construction-related matters, while, in other work, she has provided retailers with tenancy law advice. Huber co-heads the group with Alfred Nemetschke, who has recently been particularly active advising gastronomy sector players on Covid-19-related contractual issues, including litigation.

Other key lawyers:

Konrad Koloseus

Testimonials

‘Proactively analyses cases in the interest of the customer.’

‘Analytic manner; takes pros & cons of future developments into account for strategic decisions.’

‘Professional and trustworthy team with an excellent knowledge in real estate law for more than 25 years, experienced both in national and international real estate transactions.’

‘The team always focuses on best legal solutions for its clients.’

‘Excellent knowledge and highly experienced in complex transactions.’

‘High quality, professional and client-oriented.’

Key clients

Forstinger Österreich GmbH

aik Immobilien-Investmentgesellschaft mbH

C&P Immmobilien AG

Commerz Real Investmentges.m.b.H.

TELVI Immobilien Management und Entwicklung GmbH

Work highlights

  • Advised the developer C & P Immobilien AG on all legal matters in Vienna, such as construction contracts, audits, loan agreements, land and commercial registries.
  • Advising several new tourism and gastronomy sector clients on Covid-19-related matters with a focus on real estate contracts.
  • Advising Querfeld Gruppe, operator of ten cafes and restaurants in Vienna including the famous Café Landtmann, on all legal matters with a focus on real estate contracts.

Pelzmann Gall Größ Rechtsanwälte GmbH

Pelzmann Gall Größ Rechtsanwälte GmbH, part of the EY Law network, acts for an extensive roster of developers and property funds, that routinely retain the practice for transactional matters. Recently, this included several residential sector sales and acquisitions but the group also covers other asset classes and has a strong track record handling real estate and construction-related matters arising from urban development projects. Other work includes leasing matters for hotel operators. Team head Stephan Größ specialises in real estate M&A.

Practice head(s):

Stephan Größ

Other key lawyers:

Julia Karl

Testimonials

EY Law has a strong real estate team with a wide range of expertise.

Stephan Größ is very focused on getting deals done. We highly appreciate this commitment.

The real estate team led by Stephan Größ offers a vast knowledge in real estate transactions combined with a hands-on and solution-oriented approach.’

Stephan Größ stands out in the market for his fast responses, analytical skills and long-term experience.

Stephan Größ is a dealmaker.

The team is always available for the client and you feel extremely well taken care of.

The individuals are extremely involved in the cases and you realise that in this firm you are not just a number, but a valued client.

Key clients

Nuveen / European Cities Fonds

ERSTE Immobilien KAG

NÖ Immobilien GmbH / Quadrant Q ELF Projektentwicklung GmbH

BIG Bundesimmobiliengesellschaft m.b.H

Stadtgemeinde Korneuburg Stadtentwicklungsfonds Korneuburg

Warburg-HIH

IntReal

Wien3420 Aspern Development AG

DWK Die Wohnkompanie

ZBI Zentral Boden Immobilien Gruppe

Work highlights

  • Advised ERSTE Immobilien KAG on the acquisition of a residential project in Vienna from ARWAG.
  • Advised ARE Development on the development, structuring and sale of the urban development project Wildgarten in Vienna.
  • Advising Wien 3420 Aspern Development AG on the large-scale urban development project Seestadt Aspern, a new city district in Vienna; the team is advising on the acquisition, zoning and divestiture of several plots of land.

DLA Piper Weiss-Tessbach Rechtsanwälte GmbH

DLA Piper Weiss-Tessbach's strength lies in the transactional space, which is also where the focus of team head Oskar Winkler lies. This offering is particularly attractive to real estate companies, financial institutions, funds and corporates requiring assistance with the acquisition and sale of residential and business properties, hotels, logistic centres and plots of land in Austria and across the CEE region. Its transactional advice covers financing aspects, while landlord and tenant clients also receive assistance with lease agreements. Christoph Urbanek left the firm in June 2021.

Practice head(s):

Oskar Winkler

Testimonials

‘Available, professional, organised and knowledgeable.

‘Oskar Winkler: Great professional, reasonable, helpful, efficient and available.

‘Excellent service-oriented team with deep knowledge of all real estate-relevant matters.

‘Oskar Winkler is involved at all stages; very pleasant to work with and fully reliable.

Key clients

UniCredit Bank Austria

2 FFF Real Estate S.á.r.L.

Work highlights

  • Advising FFF Real Estate S.á.r.L., a Luxembourg-based regulated fund, on the acquisition and further development of a residential project in Luxembourg.
  • Advising FFF Real Estate S.á.r.L. on the purchase of an office building in Luxembourg.

Fellner Wratzfeld & Partners

Fellner Wratzfeld & Partners' real estate practice covers a wide range of issues arising from project developments alongside extension and refurbishment projects with particular expertise in public law-related matters, such as planning, zoning and environmental law, which is a reflection of team head Michael Hecht's specialism. Other work includes real estate M&A and litigation.

Practice head(s):

Michael Hecht

Other key lawyers:

Markus Kajaba; Lukas Flener

Key clients

ARE Austrian Real Estate GmbH

6B47 Real Estate Investors AG / JTP 3 Alpha GmbH & Co KG

City of Klosterneuburg

Donauturm Aussichtsturm- und Restaurantbetriebsgesellschaft m.b.H.

Fischapark Shopping Center GmbH

FoDo Holding GmbH & Co KG

IKEA Einrichtungen-Handelsgesellschaft m.b.H.

Österreichische Post AG

RK Privatstiftung

SK Projektentwicklung GmbH & Co KG

Soravia Group

Steinhoff Europe

UIV Urban Innovation Vienna GmbH

Viadonau

Wiener Immobilien Group

Work highlights

  • Advised UIV Urban Innovation Vienna GmbH on finding a location for a new multifunctional arena for staging concerts and sports events, including planning and construction law matters and approval proceedings.
  • Advising IKEA Einrichtungen-Handelsgesellschaft m.b.H. on the construction of a store at Vienna’s Westbahnhof station, including plot acquisition.
  • Advised Steinhoff Group on the sale of KIKA/Leiner to SIGNA Group.

Graf Patsch Taucher Rechtsanwälte

Graf Patsch Taucher Rechtsanwälte combines its real estate and construction law expertise - based on team head Alexander Patsch's capabilities at this intersection - to advise project developers, corporates, hospitality and hotel sector clients alongside public sector players on project developments, property and plot transactions, lease agreements and real estate disputes.

Practice head(s):

Alexander Patsch

Testimonials

‘Very competent team.’

‘Friendly, well-founded and broad level of knowledge, solution-oriented.’

Key clients

C.21.a Projektentwicklungs- und Errichtungsgesellschaft m.b.H., Austria

ZDU Holding GmbH, Germany

T-Centrum. CZ, a.s., Czech Republic

Renafan Group, Germany/Austria

Prime Site Retail Immobilien AG, Austria

Perchtoldsdorf City, Austria

Nesta GmbH, Austria

ÖAD Wohnraumverwaltungs GmbH, Austria

Caelum Development GmbH, Austria

Aurum Estate Immobilienentwicklungs GmbH, Austria

Caplinko Immobilien GmbH, Austria

CCM Café GmbH, Austria

Work highlights

  • Advised C.21.a Projektentwicklungs- und Errichtungsgesellschaft m.b.H. on a real estate development project near the new central railway station in Vienna.
  • Advised ZDU Holding GmbH on the sale of a portfolio of commercial properties located in Vienna.
  • Advising Caelum Development GmbH on the acquisition of a plot of land in Vienna from the city of Vienna.

HSP Rechtsanwälte GmbH

HSP Rechtsanwälte GmbH provides combined real estate and (public) construction law advice to investors and project developers, which translates into regular transactional mandates and instructions pertaining to project developments. Peter Fassl heads the practice and covers the full spectrum of real estate law.

Practice head(s):

Peter Fassl

Other key lawyers:

Markus Busta

Testimonials

‘There is a long-standing business relationship and we can rely on their expertise with a clear conscience. HSP is a pioneer in construction and real estate law in and we can fully count on them.’

HSP Law uses a legal software for generating some contracts automatically. Especially in the field of real estate this is often needed and keeps the billings low. They are also using a sharing platform that enables the exchange of data and information using state-of-the-art encryption methods. This simplifies our cooperation and provides for fast response times.’

‘HSP’s team has a strong reputation for its broad real estate offering, which includes, for example, restructuring as well as acquisition of real estate.’

We really appreciate having direct contact with partners. Our main contact is Peter Fassl but we’ve been in contact with other partners too, e.g. Markus Busta. Among other things, his impressive knowledge is what has made us happy clients for years.’

‘The lawyers work in interdisciplinary teams, which shortens the consultation times and thus the costs. The law firm offers solutions to questions and does not always ask questions without finding solutions.’

‘The availability of the lawyers, even outside of normal office hours, enables very quick reactions to upcoming issues. Above average commitment and excellent partnership.’

‘HSP Law has a very good reputation in the field of real estate including real estate financing. The team is absolutely the right partner for all questions of real estate law. HSP Law clarifies many cross-border issues but if a foreign consultant is required, we rely on HSP Law to coordinate the work.’

‘Peter Fassl is a highly respected lawyer in the field of real estate law. We greatly appreciate his expertise. He has extensive knowledge in construction and real estate law. Response times to enquiries are incredibly short and the answers often impress us with their level of detail. His solutions are always geared to our needs and in line with the requirements of the market.’

Key clients

IEV Investment Entwicklung & Vermietung AG

Brehmstraße Projekt GmbH

B Real Immobilien GmbH

400 Four Hundred Real Estate GmbH

BC Seering GmbH & Co KG

6B47 Real Estate Investors AG

WINEGG Realitäten Gesellschaft m.b.H.

DWK – Die Wohnkompanie GmbH

UBM Development AG

Work highlights

  • Advised 6B47 Real Estate Investors AG on various real estate and construction law matters pertaining to the project Althan Quarter in Vienna.
  • Advised DWK – Die Wohnkompanie GmbH on the project Höchstädt-Square, including assistance with the purchase and the condominium structure.
  • Advised 400 Four Hundred Real EstateGmbH on matters arising from the sale of its Sony Center in Anif.

Jank Weiler Operenyi

With Gabriele Etzl heading the team at Jank Weiler Operenyi, it is well equipped to guide clients through real estate transactions and financings across Austria and the CEE region. The practice has recently been mostly active in the residential space, including residential development-related matters, but it also covers various other asset classes. Its retail sector work routinely includes operational issues such as lease agreements. Other clients include real estate investment companies, developers and financial institutions.

Practice head(s):

Gabriele Etzl

Other key lawyers:

Andreas Jank

Testimonials

‘Gabriele Etzl was the main contact for Austrian law and her team were not only available to discuss Croatian law matters but they were knowledgeable on similar transactions in CEE and were of great help.’

‘Gabriele Etzl as the partner for real estate was knowledgeable, extremely experienced and kept her calm during quite intense negotiations and complications (with clients and counter party). This demonstrates a well-seasoned approach.’

‘The team is very professional and provides top quality, in particular it has a broad real estate industry knowledge and a very good economic understanding.’

‘They provide excellent legal services in various legal fields, such as real estate transactions, real estate finance, real estate development projects, and public real estate law. They work very efficiently and have a hands-on approach. Moreover, they have an excellent understanding of the market.’

‘Gabi Etzl provides excellent quality and is very diligent, a very good negotiator.’

‘The team of Gabriele Etzl is particularly strong in the field of real estate M&A transactions and real estate finance transactions. We regularly work with them in finance transactions and are extremely satisfied with the quality of the work and the smooth cooperation.’

‘What makes the team outstanding is that they are very knowledgeable, very diligent and they have a hands-on approach. They provide top quality, in an efficient way.’

‘We regularly work with Gabriele Etzl. She is an excellent lawyer, very experienced and efficient, and has a broad knowledge in the real estate and real estate finance sector. We are very satisfied with the quality of the work provided. We are especially impressed by the legal knowledge, the negotiation skills, the constructive approach and the smooth way of handling transactions.’

Key clients

Akron Group, Akron Real Estate Management GmbH

Abercrombie & Fitch

DWK Die Wohnkompanie GmbH

Deutsche Pfandbriefbank AG

Erste Bank der oesterreichischen Sparkassen AG

SW Umwelttechnik Stoiser & Wolschner AG

Deloitte Austria

Shopping Center Nord

Benetton Group S.r.l.

Hotelplan Limited

via donau – Österreichische Wasserstraßen-Gesellschaft mbH

Österreichischer Fussball-Bund (ÖFB)

Betha-Zwerenz-Krause GmbH

Universal Investment / BVK Europa-I-Immobilienfonds

Immofinanz AG

Land Niederösterreich

Work highlights

  • Advising Akron on the acquisition of several real estate properties throughout Austria, most recently in the acquisition of a supermarket portfolio in Vienna.
  • Advising Universal Investment on the financing of several residential properties in Austria for a real estate fund.
  • Ongoing advice to DWK Die Wohnkompanie on the acquisition and development of residential properties.

Pitkowitz & Partners

In summer 2021, Martin Foerster left Graf & Pitkowitz, now GRAF ISOLA, to co-found Pitkowitz & Partners, where he heads the real estate and construction practice. The focus of his practice remains on project developments, including transactional matters, with particular strength in the residential, office and hotel sectors, and on commercial leases. Clients include project developers and international corporates.

Practice head(s):

Martin Foerster

Testimonials

The team as a whole is searching for excellence. Invoicing and billing are based on documented work, comprehensible and reproducible.

Martin Foerster demonstrates outstanding knowledge in Austrian estate and property law. He was ready to dive deeply into details and had them available for forensic use. His arguments were to the point, legally solid and quickly available. His appearance before court was immaculate.

Excellently trained lawyers with straightforward answers to complicated issues. Far-sightedness also beyond the legal field. Exceptionally pleasant partner structure, top specialists for each case.

Martin Förster: Brilliant strategist, outstanding negotiator with exceptionally broad understanding of real estate and even construction challenges during the course of the project.

While this is a new firm, the team has many years of experience in working together on complex real estate projects. Their key strength is that they have short communication paths and nothing gets “lost in translation”. You can immediately speak to the partner who will help you find a fast and efficient solution while at the same time keeping your legal interests safe.

Martin Foerster: He is very good at breaking down complex issues to their core and finding workable solutions. A very sharp mind!

Martin Foerster is an experienced real estate lawyer, very focused on results for his clients.

Top-level professionals with matter-oriented approach.

Key clients

McArthurGlen

Rapid Wien

Regus / IWG

General Dynamics

Fleissner Group

New Yorker

Work highlights

  • Advised McArthurGlen Group on all lease-related matters pertaining to its designer outlet centres in Salzburg and Parndorf, including Covid-19-related negotiations and agreements with the centres’ tenants.
  • Assisted IWG Group with the roll-out of its co-working office centres throughout Austria.
  • Assisted Fleissner Group with the development of three business hotels in major Austrian cities, including operator agreements with international hotel chains and forward purchase agreements with investors.

PwC Legal Austria-oehner & partner

PwC Legal Austria-oehner & partner has recently received several instructions from real estate investment and development companies on the sale and acquisition of residential properties and logistics centres, including several forward funding deals. This is complemented by team head Karl Koller's hotel and leisure sector expertise, which is called upon in the transactional space on one hand and in the context of operational and leasing matters on the other.

Practice head(s):

Karl Koller

Testimonials

‘Karl Koller and his team have well supported us in our several deals. We do enjoy our long cooperation.’

‘Karl Koller combines excellent legal knowledge and very good negotiation skills. He’s always available and able to deliver thorough advice and practical solutions quickly.’

Key clients

Adina Apartment Hotels

Catella Residential Investment Management GmbH

Kara Group of Companies

Manpower

MERYN+Partners

STRABAG Real Estate GmbH

The Student Hotel

Vienna Airport

Zoku

Work highlights

  • Advised Catella Residential Investment Management GmbH on behalf of Catella European Residential Fund III on the acquisition of a residential development in Vienna by way of a forward funding deal from Die Wohnkompanie.
  • Advised a subsidiary of Vienna International Airport on the sale of a property to DLH (Deutsche Logistik Holding) for the development of a logistics centre.
  • Advised a Kara Group company on the partial sale of a logistics centre to an investment fund managed by AEW.