E+H advised the joint venture of STC Development GmbH and RoomBuus Baudienstleistungs GmbH on the development and sale of the “High Five” lighthouse project in Linz. The buyer is the Erlangen-based ZBI Zentral Boden Immobilien Group, which hereby adds its first property in Linz to its Austrian portfolio.
With its prominent location on the Bulgariplatz, the real estate project in the Upper Austrian capital has convenient access to routes both in and out of the city center. More than 300 apartments, two commercial units, and 150 parking spaces will be completed there by the end of 2024.
Matthias Waibel, Managing Director of STC Development says, “With ‘High Five’ we are creating an absolutely unique project in Linz, which we were able to sell to a very long-term oriented, distinguished investment house, thanks to the support of E+H.”
The transaction was structured as a forward funding deal. The parties agreed not to disclose the transaction volume.
STC Development GmbH does business in real estate and urban development. Founded in 2003 and headquartered in Vienna with a branch office in Dornbirn, the company offers partners expertise and experience in the service areas of project development and management, general planning, local construction supervision, and asset management.
RoomBuus Baudienstleistungs GmbH has been designing projects of all sizes since its founding in 2000. The company, which operates throughout Austria and is headquartered in Linz, covers a broad spectrum of services including land acquisition, project development and management, general planning, local construction supervision, and asset management.