The real estate team at CERHA HEMPEL advised Raiffeisen Property Holding International on the sale of an office building in the Neu Marx area in the third district of Vienna to the European Handball Federation (EHF). The sale took the form of a forward purchase. Closing took place at the beginning of June 2023.
Once complete, the "European Handball House" will be the new headquarters of the European Handball Federation, boasting a total floor space of 5,600 m², with offices, a lecture hall and its own TV studio. A 240 m² PV system is going to be installed on the roof. It is expected to be completed in autumn 2024.
In the future, the "European Handball House" will host draws for top competitions such as the European Championships and the EHF Champions League, as well as international conferences and conventions aimed at further developing European handball with its more than 350 clubs.
CERHA HEMPEL comprehensively advised Raiffeisen Property Holding International on the purchase and construction contracts as well as on structuring the forward purchase.
"We're delighted that Raiffeisen Property Holding International once again relied on our expertise in forward transactions for this prestigious project. The sale of the 'European Handball House' is proof that high quality products remain in high demand in spite of a difficult market environment", said CERHA HEMPEL partner Mark Krenn, who spearheaded the real estate team.
"As always, the cooperation between the teams involved in the transaction at Raiffeisen Property Holding International and CERHA HEMPEL was highly professional and efficient", said Heinrich Foglar-Deinhardstein.
The team at CERHA HEMPEL consisted of Mark Krenn (Lead Partner, Real Estate), Heinrich Foglar-Deinhardstein (Partner, Corporate), Marko Vladic (Attorney, Real Estate), and Johanna Kaschubek (Associate, Real Estate).
Raiffeisen Property Holding International (RPHI)
Raiffeisen Property Holding International (RPHI) is a wholly-owned subsidiary of Raiffeisen Bank International (RBI) AG. RPHI develops, manages, operates and sells real estate in Austria and the CEE region. RPHI's range of services includes both its own developments and comprehensive real estate services in various asset classes.