E+H advises IMMOLA Group on the sale of a residential project in Graz to GalCap
The IMMOLA Group, one of the leading experts in urban development in Graz, Klagenfurt, and Linz, and advised by E+H, has sold the KARL27 (Karlauerstrasse 27) residential project in Graz to GalCap Europe, a real estate asset and investment manager specializing in Austria and neighboring Central European countries. The transaction was conducted as a forward deal. The contracts were signed in spring, and the closing took place in mid-June in the new Graz offices of E+H. The parties agreed not to disclose the transaction volume.
The residential complex will comprise a total of 73 efficient 2- and 3-room apartments in two buildings. Dipl.-Ing. Markus Lampesberger, Managing Director of IMMOLA, is pleased “that the KARL27 residential project will make an important contribution to urban development in the Gries district”. This project “will further enhance the district and significantly increase the quality of life in this part of town”.
The successful transaction was led by E+H partner Dr. Alric A. Ofenheimer, an expert in real estate business law and corporate law/M&A.
Advisers to the IMMOLA Group
E+H: Dr. Alric A. Ofenheimer (Real Estate Law, Corporate Law/M&A) and Mag. Helena Neuner (Real Estate Law, Corporate Law/M&A)
About IMMOLA Group
The IMMOLA Group offers comprehensive support in real estate project development, from planning to handing over the keys. The company focuses on the combination of modern architecture and affordable living and works on functional living spaces for maximum living comfort and better quality of life.
E+H is a commercial law firm operating internationally, with exceptional lawyers in Vienna, Graz, and Klagenfurt. The firm regularly receives awards and top spots in international rankings and directories, such as Chambers & Partners Global & Europe, Legal 500, JUVE, and Mergermarket.
Dr. Alric A. Ofenheimer
T: +43 1 606 3647
E+H Eisenberger + Herzog Rechtsanwalts GmbH
Vienna Twin Tower, Wienerbergstraße 11