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Allianz Real Estate Acquires Landmark Office Project for More than EUR 500 Million with Support of CMS

07/07/2017

Vienna, Stuttgart – Allianz Real Estate has just acquired 100 percent of the landmark office project “THE ICON VIENNA” at Vienna’s new Central Station for several Allianz companies. The investors include, inter alia, Allianz Lebensversicherungs-AG and Austrian Allianz Elementar Versicherungs-AG. The property was sold by SIGNA Development Selection AG. The investment volume amounts to over EUR 500 million.

In the course of this forward deal, CMS Germany (project lead) as well as CMS in Austria and Luxembourg acted as the legal advisors to Allianz. They advised the client on questions related to structuring, contract negotiations, due dilligence, antitrust law and regulatory topics. CMS regularly supports Allianz in real-estate transactions, most recently in the sale of the real-estate portfolio Cloud 9 to Patrizia and the acquisition of the Kap West development project in Munich from OFB.

“THE ICON VIENNA” project comprises three office towers located directly at Wiedner Gürtel. The objects have direct access to the main hall of the railway station with connections to the underground and railway networks in Vienna, as well as to long-distance services of the Austrian Federal Railways ÖBB. The total gross floor space amounts to 88,000 square metres. There is already high demand for the office space of the property, which is currently undergoing construction (with completion scheduled for the second quarter of 2018). Allianz is expected to assume ownership in the fourth quarter of 2018.

A picture of Johannes Hysek (lead partner CMS in Austria) is available for free download here

Team CMS in Austria

  • Dr. Johannes Hysek, lead partner
  • Martin Trapichler, attorney-at-law
  • Mariella Kapoun, associate
  • Daniel Röthlin, legal assistant, all Real Estate
  • Molly Kos, associate, Public Law
  • Tobias Kostner,  associate
  • Peter Machherndl, associate, all Commercial
  • Dieter Zandler, partner
  • Arno Scharf, associate, both Competition & EU
  • Thomas Böhm, partner, Insurance

Team CMS in Germany

  • Dr. Volker Zerr, lead partner
  • Dr. Simon Marschke, counsel
  • Jacqueline Terhöven, senior associate, all Real Invest
  • Dr. Maximilian Grub, partner
  • Dr. Sabina Krispenz, lead counsel
  • Dr. Tobias Will, associate,
  • Pia Klages, associate, all Corporate/M&A
  • Dr. Christian Haellmigk, partner
  • Sophie Mathäß, associate, both Competition & EU
  • Dr. Winfried Schnepp, partner
  • Dr. Frank Püttgen, counsel, both Insurance Regulatory

Team CMS in Luxembourg

  • Julien Leclère, partner
  • Jehan Dupont Danzel d’Aumont, associate, both Corporate/M&A

Allianz Legal Inhouse

  • Dr. Markus Trotter-Melitz, head of legal
  • Isabel Haupt, senior legal counsel
  • Dr. Petra Daniela Kirsch, senior legal counsel
  • Tina Katrin Geissler, compliance officer
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Allianz Real Estate Acquires Landmark Office Project for More than EUR 500 Million with Support of CMS
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