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.