DORDA Advises UBM and S IMMO on the Sale of the Remaining Office Units in Belvedere Central Quarter
August, 2019 - Vienna, Austria
Stefan Artner, DORDA partner and head of the real estate practice group, and Magdalena Brandstetter, senior associate at DORDA, advised Europe's leading hotel developer UBM Development and the real estate investment company S IMMO AG on one of the largest real estate transactions of the year. In a forward deal, the office properties QBC 1&2 with a rentable area of over 38,000 sqm, with underground parking and almost 680 parking spaces were sold. The buyer is the international investor EPH Eastern Property Holding. The purchase price amounts to approximately € 233 million. The signing of the transaction took place in August 2019.
Stefan Artner on the transaction: "Quartier Belvedere is a success story of the local real estate landscape. A new and attractive district was born due to the high-quality property development. QBC attracts many top tenants through to its location close to the city centre. In addition, the main railway station which serves as mobility hub and the broad range of infrastructure add to the location."
UBM Development is a leading hotel developer in Europe with a focus on the asset classes hotel, residential and office. S IMMO AG is a listed real estate investment company with a focus on Austria, Germany and CEE.
DORDA's award-winning real estate practice group headed by Stefan Artner advised the seller UBM and joint venture partner S IMMO. He was supported by senior associate Magdalena Brandstetter and associate Markus Buchleitner from his team. Artner and his team have already advised on real estate transactions around the Belvedere Central quarter in 2017 and 2018 and, among others, advised the buyer of the UBM Micro Living project in QBC.
