Schoenherr has advised Union Investment on the acquisition of a residential complex in Graz from the Immola Group. Scherbaum Seebacher advised the Immola Group on the deal.
Union Investment is a real estate investment manager which has been investing in real estate projects for over 50 years and has total real estate assets of EUR 34.3 billion.
The Immola Group specializes in the holistic development, financing, and support of residential construction projects in Graz and the surrounding area. Its portfolio includes residential complexes, single and multi-family houses as well as rental and investor properties.
According to Schoenherr, "the transaction enables the construction of around 255 new residential units as well as additional office and retail space in a coveted district of Graz."
The Schoenherr team was led by Partner Arabella Eichinger and included Lawyers Benjamin Schlatter and Serap Aydin and Trainees Constantin Klausegger and Christoph Tittes.
Scherbaum Seebacher's team consisted of Partner Sascha Verovnik.