CHSH has advised the KGAL Group on its acquisition of the ELI Liezen shopping center in Liezen, Austria, from the Rutter Immobilien Group. Harisch & Partner advised Rutter on the deal.
The purchase of the shopping center marks the seventh real estate property acquisition for the institutional Austrian Retail Park Portfolio retail fund by the KGAL Group, one of the largest German asset and investment managers. The KGAL Group secured the acquisition of ELI Liezen as a forward deal back in 2014 during the project phase. According to CHSH, the Rutter Immobilien Group will "maintain a link with the shopping center by retaining a 10% stake in the property via its owner."
The CHSH team was led by Partner Manfred Ton, supported by Partners Mark Krenn and Stefan Huber and Senior Attorney Matthias Nodl.