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Wolf Theiss Advises ZBI Group on Acquisition of Graz Tower Project from KS Group

Wolf Theiss Advises ZBI Group on Acquisition of Graz Tower Project from KS Group

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Wolf Theiss has advised ZBI Zentral Boden Immobilien Group on its acquisition of the Karntner Strasse 1 tower from the KS Group. Kaan Cronenberg & Partner reportedly advised the seller.

"The joint venture project between the ZBI Group and the KS Group involves the construction of a modern tower with 17 floors and an expected total rental area of around 20,000 square meters," Wolf Theiss informed. "It will be centrally located on Lazarettgurtel in the Gries district of Graz and will comprise 197 co-living flats as well as seven commercial units. While construction is scheduled to start in the third quarter of 2023, completion is scheduled for the end of the first quarter of 2026."

The ZBI Group is a German company that specializes in residential real estate. The ZBI Group currently has over 850 employees at over 30 locations in Germany, Luxembourg, and Austria.

The Wolf Theiss team included Partner Erik Steger and Senior Associate Sandra Seldte.

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With over 360 lawyers in 13 countries, over 80% of the firm’s work involves cross-border representation of international clients. We have concentrated our energies on a unique part of the world: the complex, fast-developing markets of the CEE/SEE region. Through our international network of offices, we work closely with our clients to develop innovate solutions that integrate legal, financial, and business know-how.

Wolf Theiss provides fully integrated corporate services in mergers and acquisitions, private equity, real estate, banking and finance, tax and insurance, employment law, competition law, energy law, privatisation, restructuring, public procurement and litigation. At Wolf Theiss, we measure our success by the success of our clients. We align our goals with yours to ensure that your needs are being met in even the most complex of cross-border matters. This means that we know how to listen to you and help you use the assets you already have while finding opportunities.

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