Cerha Hempel has advised Abrdn on the acquisition of a residential project in Vienna from the Innsbruck-based project consortium Moser Immobilien and Bauwerk Immobilien. Grama Schwaighofer Vondrak advised the sellers.
Abrdn, formerly Aberdeen Standard Investments, is an active asset manager. Its investment arm manages assets valued at EUR 519.2 billion.
According to Cerha Hempel, “the development in Vienna's 15th district was acquired for [Abrdn’s] Luxembourg-based Aberdeen Standard Pan European Residential Fund. A residential building complex with a total living space of 19,766 square meters – divided into 311 residential units – as well as 198 underground parking spaces and approximately 850 square meters of storage space for the tenants will be constructed on the 7,816 square-meter project site, making it one of the largest projects in the fund's portfolio. The project is scheduled for completion in the spring of 2024.”
Cerha Hepel’s team included Partners Mark Krenn and Heinrich Foglar-Deinhardstein and Senior Associates Jakob Hartig, Marko Vladic, and Angelika Schussler-Datler.
Grama Schwaighofer Vondrak's team included Partners Georg Zacherl and Andreas Schwaighofer.