Wolf Theiss has advised Aareal Bank on its financing of what the firm is calling the “biggest real estate deal in Austria in 2014”: The purchase by the Morgan Stanley Real Estate Fund and the Linz-based Kaufmann group of the Viennese Millennium Tower and Millennium City.
The acquisition remains subject to the approval of the competition authorities.
The 202-meter Millennium Tower was until recently the tallest office building in Austria. The 47,200 square-meter Millennium City complex contains a shopping mall, flats, and a cinema. Munchmeyer Petersen Capital acquired the real estate in 2003 for EUR 360 million, with financing provided by Westdeutsche Immo Bank.
The Wolf Theiss team was led by Partner Andreas Schmid, assisted by Michaela Zakharian, Rainer Kammerhofer, and Georg Harer. Counsel Karl Binder was responsible for real-estate aspects.