Wolf Theiss, working alongside global counsel Paul Hastings, has provided local Austrian counsel to international real estate investor Invesco Real Estate on its sale of a portfolio of hotels to the hotel operator Pandox AB. Wolf Theiss was responsible for executing the sale of Invesco's Austrian hotels, located at Vienna International Airport and in Salzburg.
A total of seven hotels with 1,744 rooms were transferred from Invesco to the Sweden-based Pandox AB in the form of a share-deal transaction. Four of the hotels are located in Germany, two in Austria, and one in the Netherlands. According to Wolf Theiss, "the hotels serve an upscale market and are managed by notable hotel operators."
The Wolf Theiss team was led by Partner Karl Koller and included Managing Partner Erik Steger and Associate Elias Pressler. The transaction closed in December 2016.
Image Source: pandox.se