Bank Austria launches sale of Immobilien Holding portfolio
Following the evaluation of the entire portfolio of equity interests which are not part of its core business, UniCredit Bank Austria has decided to start the sale of the real estate portfolio of the Immobilien Holding GmbH Group on 7 January 2015 through a structured sales process. The tender procedure is open to Austrian and foreign investors and is planned to be completed by autumn 2015.
Immobilien Holding GmbH holds investments in some 80 properties throughout Austria, including Donauturm, Garage am Hof, Schlosshotel Lebenberg in Kitzbühel and Wien Mitte Immobilien GmbH. It also holds various equity interests in companies which are active as project developers and service providers, e.g. BAI Bauträger Austria Immobilien GmbH, Ekazent Immobilienmanagement GmbH, real estate manager Dr.W.W.Donath Immobilienverwaltung GmbH and real estate broker BA Real Immobilientreuhand GmbH. Also included in the portfolio is Wien Mitte, for which a separate sales process was launched in November 2014.
Within the two-phase sales process, phase one is the sale of the main portfolio of investments and phase two encompasses the sale of property developer BAI Bauträger Austria Immobilien and of various service companies. In the first phase, the main portfolio of investments comprising six packages will be offered for sale: residential property rented out under a general lease and benefiting from a subsidy scheme for construction (packages 1 and 2), residential property in prime locations (package 3), apartment buildings (package 4), individual apartments, business premises and car parks (package 5), and building rights and rental rights of Ekazent Realitäten GmbH (package 6). Moreover, the bank will also offer for sale individual properties such as Wiener Donauturm and Schlosshotel Lebenberg, a hotel in Kitzbühel. Bids can be made for the entire package and for specific packages.
UniCredit Corporate Finance Advisory Austria & CEE, Bank Austria’s own M&A team, is accompanying the sales process. The law firm Freshfields Bruckhaus Deringer will provide legal advice in phase 1, on the sale of the portfolio of property investments. The law firm Fellner Wratzfeld & Partner will provide advice in phase 2, on the sale of the property developer BAI and on the sale of the service companies.
Enquiries: Bank Austria Media Relations Austria
Martin Halama, tel. +43 (0) 50505 - 52371