Dorda has advised Patrizia AG on the acquisition of the Aira Tower residential project in the Reininghaus district of Graz from Aira Development Group.
Financial aspects of the deal were not disclosed.
Patrizia AG is an investment manager on European real estate markets that is primarily focused on purchase, management, value enhancement, and the sale of residential and commercial real estate.
According to Dorda, "the Aira Tower will have 104 apartments, and include a commercial unit as well as a day care center. The Aira Tower will be completed by the end of 2021 and will be a part of an area of around 520,000 square meters consisting of apartments, local amenities, offices, restaurants, and educational facilities.”
Dorda’s team consisted of Partner Stefan Artner, Attorney Magdalena Brandstetter, and Associate Caroline Lessky.
Editor's Note: After this article was published, CEE Legal Matters learned that Eisenberger & Herzog had advised the Aira Development Group on the sale. The firm's team consisted of Partners Alric Ofenheimer and Christopher Engel and Associate Susanna Falkenburg.