CMS Vienna and CMS Zagreb demonstrate CMS’s special expertise in cross-border transactions while advising CA Immo on the sale of the Zagrebtower to the Austrian real estate company S IMMO AG.
Partner Clemens Grossmayer and attorney Mario Maier – both experts in corporate law/M&A at CMS Vienna – advised on the transaction, which was carried out by way of a “share deal” from Vienna. In spite of the current restrictions due to COVID-19, they managed to cooperate seamlessly with their CMS Zagreb colleagues. “Despite the challenging circumstances, we were able to complete the transaction extremely efficiently,” said Dr Ingo Steinwender, Head of Legal at CA Immo, delighted with his company’s effortless cooperation with the international CMS team.
On the CMS Zagreb side, partner Marija Zrno, attorney Ivan Šoštaric (Corporate Law/M&A) and partner Ana-Marija Skoko (Real Estate and Construction) contributed their expertise.
CA Immo withdraws from Croatia
CA Immobilien Anlagen AG specialises in office properties in Central European capitals. With the sale of the Zagrebtower office building, CA Immo is withdrawing from Croatia and focusing its investment strategy on office buildings in Germany, Austria, and CEE capitals. The purchase price was 5% above the book value for the first half of 2020.
The Zagrebtower is a Class A building in the heart of the Croatian capital. The 79-metre building is one of Zagreb’s most impressive landmarks and offers 25,900 m² of rental space on 22 floors.