PHH has helped GR Real acquire the historic Art Nouveau apartment building in Linz — the fifth such building it has acquired in the city.
According to PHH, "the Art Nouveau house was designed and built in 1909/1910 by architect Mariz Balzarek, a student of Otto Wagner. A subsidiary of GR Real GmbH, a family-held firm, has now acquired the historic building, which is over 100 years old. The apartment building will be restored and the attic expanded in strict compliance with the laws on the protection of historical buildings and monuments. Managing Director and Founder of GR Real Clemens Riha explained that, 'houses that are steeped in history are particularly important to my brother and to myself, because we feel that we owe the permanent preservation of beautiful cultural property to the next generation.'"
The PHH team was led by Partner Julia Fritz.