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CHSH and Dorda Advise on IC Development Sale of DENK 3 Office Complex to ARE

CHSH and Dorda Advise on IC Development Sale of DENK 3 Office Complex to ARE

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CHSH has advised IC Development on its sale of the new DENK 3 office complex, situated in the Viertel Zwei district of Vienna, to ARE Austria Real Estate GmbH, a subsidiary of Bundesimmobiliengesellschaft GmbH. Dorda advised ARE on the deal. The purchase price was not disclosed.

DENK 3 consists of two retail and office buildings in Viertel Zwei. Dorda describes the deal as a forward purchase (share deal), "which required intense preparation of the SPA and the lease agreement (as BIG will move to this location as its new headquarters). The transaction was signed in 2016, but [has] not yet closed."

CHSH Partner Manfred Ton, who led his firm’s team on the deal, described it as "one of the largest real estate deals of the year 2016." Ton was supported by Matthias Noedl and Peter Vcelouch.

The Dorda team was led by Partner Stefan Artner, supported by Attorney Klaus Pfeiffer.

Editor's Note: On May 22, 2018, after this article was published, Dorda announced that the transaction had closed on April 30, 2018.

Image Source: bar.at

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