Wolf Theiss advises Art-Invest Real Estate in the acquisition of the Millennium Tower

Vienna, 23 November 2017 – The renowned German real estate investment company Art-Invest relied on the comprehensive legal counselling provided by Wolf Theiss in entering the Austrian market. The Real Estate, Tax and Banking teams of Austria’s largest law firm supported the client in acquiring the landmark property “Millennium Tower”.

The purchase took place for a special fund which Art-Invest established on behalf of the pension fund Rheinische Versorgungskassen.

“The transaction was one of the most challenging deals this year“, said Peter Oberlechner, Head of Real Estate and team leader at Wolf Theiss. “We are proud of the confidence placed in us by Art-Invest to help carry out this complex transaction.”

The financial and tax aspects relating to the acquisition of Austria’s second highest office building were implemented by the Partner Nikolaus Paul (Banking & Finance) and Partner Benjamin Twardosz (Tax), Consultant Melanie Dimitrov (Tax) and Senior Associate Mimo Hussein (Banking). The field of real estate law was in the hands of Counsels Birgit Kraml and Stefan Weishaupt, as well as Associates Lisa Rösler, Natascha Johannik and Stefan Horn.

The 50-storey Millennium Tower boasting a height of 202 meters is a fixed component of the Viennese skyline, and features about 40,000 m² of commercial rental space. The building stands out due to its strategically favorable location at the Handelskai transport and traffic hub with its own railway connection in Vienna’s 20th district.