Advising SORAVIA on the sale of the Austro Tower to DEKA.

SAXINGER has advised SORAVIA on the sale of the Austro Tower to the German institutional real estate investor DEKA by way of a forward deal. The signing of the transaction took place on 28.05.2020.

The 136 meter high tower is being built at Schnirchgasse 17 in Vienna’s third district. Completion is scheduled for the 4th quarter of 2021. The Austro Tower will at closing of the transaction be fully rented out. 85 % of the 28,000 sqm of office space will be occupied by the new headquarters of state-owned Austro Control and ASFINAG c.

SAXINGER partners Dr. Immanuel Gerstner (lead partner) and Dr. Lukas Leitner (Corporate/M&A, Real Estate) as well as lawyer Mag. Jana Seywald (Real Estate, Public Procurement Law) advised SORAVIA on all legal aspects of this transaction. "From the very beginning, we were providing legal support to SORAVIA in all important project phases of the Austro Tower - starting with the public tender, from the negotiations with the general contractor up to this further important project milestone. We are pleased that SORAVIA has relied on the expertise of SAXINGER for many years and for many of its landmark projects," says Immanuel Gerstner.

Dr. Immanuel Gerstner
attorney at law, Partner

"From the very beginning, we were providing legal support to SORAVIA in all important project phases of the Austro Tower - starting with the public tender, from the negotiations with the general contractor up to this further important project milestone. We are pleased that SORAVIA has relied on the expertise of SAXINGER for many years and for many of its landmark projects"