fwp advised WED Donau-City Gesellschaft mbH on the sale of the DC Tower 1 building to a banking group and is announcing the successful closing of the transaction.

fwp advised WED Donau-City Gesellschaft mbH (a Vienna-based company for developing the Danube region in Vienna) on the sale of the highest building in Austria – the DC Tower 1 in the Donau-City neighbourhood. Deka Immobilien Invest GmbH, a real estate investment company belonging to the DekaBank Deutsche Girozentrale banking group, closed the acquisition of 100 percent of the shares of ‘CANDOUR FIVE GmbH & Co KG’ (closing date: 6 July 2017).

Complex contract negotiations in the course of the selling process which had started in the fall of 2016 ended on 1 June 2017 with the signing of the share purchase and transfer agreement by means of which – after the implementation of several restructuring measures – the sale to Deka Immobilien Invest GmbH was completed.

By building DC Tower 1, WED-associate DC Tower 1 Liegenschaftsbesitz GmbH successfully added Austria’s highest building to the modern city centre of Vienna.