The ICON Vienna

“Together with GalCap Europe, we managed to make the transaction happen quietly and within a short timeframe. As a reliable local partner in Vienna, GalCap Europe was and continuous to be very valuable to us.”

Annette Kröger, CEO of Allianz Real Estate Germany GmbH

Background:
Allianz Real Estate sought to significantly expand its real estate portfolio in Vienna and targeting a major acquisition. THE ICON VIENNA, considered an outstanding new development with over 80,000 m² of office and shopping at the new Vienna Central Station, was one of the few developments of this caliber under consideration. Allianz Real Estate was looking for an experienced local specialist to assist in this transaction as commercial advisor and to ensure a smooth process through the entire deal.

Implementation:
Allianz Real Estate’s already strong in-house transaction and asset management team was complimented perfectly with the expertise of GalCap Europe. From the overall negotiation tactics, through specific market models, to detailed questions regarding operating costs, GalCap Europe brought in its specific capabilities. Always maintaining a climate of absolute confidentiality in all aspects, Allianz and GalCap Europe achieved – and continue to achieve –  excellent results together. Mutual trust, knowledge and a keen sense of corporate needs contribute significantly to this. In the same way, the appropriate bank financing for the property was secured at very favorable terms.

Conclusion:
With a strong mix of international transaction experience and local roots, GalCap Europe has made a strong team even stronger. The purchase of THE ICON VIENNA is one of the largest real estate deals ever in Vienna with a transaction volume of over EUR 500 million. GalCap Europe continues to accompany Allianz Real Estate through the completion of the final handover of the property to the new owners (expected end of 2018).