BERLIN, Dec. 17, 2015 – Greenberg Traurig Germany (GT Germany) has advised Dream Global REIT (Dream Global) on its investment in Rivergate, a major office and retail property in Vienna. Dream Global acquires the property by way of a share deal in a 50/50 joint venture together with an Asian institutional investor. The two partners acquire the building for a total property value of 189 million euros.
The property totals 574,000 square feet and includes two office towers that are connected by a covered atrium. The office complex is regarded as a prominent landmark on Vienna's Danube waterfront. For Dream Global the purchase of Rivergate is its first European investment outside of Germany.
GT Germany advised on all aspects regarding the formation of the joint venture, including advice on the related asset management agreement, while also providing advice on the acquisition and refinancing of the property together with Austrian law firm Schönherr Rechtsanwälte.
Background:
The team of GT Germany, formerly Olswang, advises Dream Global since its market entry in Germany in 2011 on the acquisition and financing of real estate portfolios and single real estate objects.
Legal advisors:
Partner: Dr. Henning Sieber (lead attorney, Real Estate M&A)
Associates: Alexander Ahrens (Corporate M&A), Dr. Nicolai Lagoni (Corporate M&A)