Dorda has advised German industrial and logistics property developer Log4Real on its market entry into Austria. Log4Real, a majority-owned company of the German Zech Group, has acquired properties of more than 300,000 square meters in close vicinity to the Vienna Airport from an undisclosed seller.
According to Dorda, "the project, known as Log4Real Industrial Campus Vienna East, foresees a development of approximately 170,000 square meters of flexible and energy efficient new warehouses to accommodate the logistics and light industry. The Industrial Campus targets multi-sector tenants from the area of E-Commerce, Automotive, temperature-controlled logistics for FMCG and retail, pharma logistics, technology, R&D as well as 3PL and contract logistics."
Also according to Dorda, "on a pan-European level, Log4Real plans to construct 3 million square meters of sustainable energy warehouses at key hub locations for international institutional investors. The program foresees a multi-billion euro investment."
The Dorda team led by Managing Partner Stefan Artner and Attorney Klaus Pfeiffer advised on constructional and commercial issues related to the acquisition of the properties as well as on the implementation of the Vienna Headquarters which will serve as a central hub for the logistics real estate projects in Austria and CEE. The LeitnerLeitner firm advised on the tax structure and on taxation issues.
"The asset category logistics has increasingly become attractive, which is once more demonstrated by this transaction," said Stefan Artner. "We are very pleased to accompany Log4Real’s market entry into Austria and to further support the development of their logistics-hub in Austria and CEE."
Log4Real CEO Christian Bischoff and the regional Managing Director for CEE, Mario Sander, added that: "Historically, Austria has always been highly attractive for logistics and real estate developers because of its geographical location between east and west. At the same time, we also want to disrupt the Austrian market. The market is in urgent need of technical and sustainable innovations for the development of new class industrial and logistics property. It was a pleasure to work with Dorda and LeitnerLeitner. They did an excellent job for our market entry. We appreciate their solution driven approach, their vast experience and their combined legal and tax knowhow which is crucial to the success of our program."
Dorda informed CEE Legal Matters that it was unable to disclose the identity of the seller or its legal counsel.