Wolf Theiss advises GalCap Europe on the acquisition of its first historic tenement building in Vienna

Vienna, 6 December 2022 – GalCap Europe has purchased a trophy asset next to Vienna’s famous Augarten baroque park. This “Foundation Period House” was completely renovated and modernised with an elegant attic conversion.

Located close to the Augarten in Vienna, the modernised apartment building encompasses a total lettable area of about 1.900 sqm. and generous outdoor space for loggias, balconies and terraces, and is currently being re-let.

GalCap Europe – founded in 2015 – is one of the leading real estate investment managers for Austria and Central & Eastern Europe (CEE). The purchase of this modernised “Gründerzeithaus” at Karajangasse 6 in Vienna’s 20th district marks GalCap Europe’s entry into the Vienna “Zinshaus”/tenement housing segment.

“We are pleased to have accompanied GalCap Europe in the successful purchase of this really exceptional apartment building”

Peter Oberlechner, Wolf Theiss partner

“With this acquisition, we succeeded in taking a first, well-considered step into the sustainable Viennese tenement housing segment.  The team of Wolf Theiss provided fantastic support in the deal and helped us to keep track of and cover all legal aspects comprehensively”

Mag. Peter Tatzl, Director of Investment, GalCap Europe

Besides Oberlechner (Partner), Elisabeth Werginz (Associate) had contributed to the successful transaction.