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11 March 20223 minute read

DLA Piper advises on project financing of Vienna’s "Althan Quartier“

DLA Piper has advised the investors on one of Austria's largest mezzanine financings, for Vienna’s "Althan Quartier", one of the City’s most ambitious construction projects, which has the development above the Franz-Josefs railway station at its heart.

The 'Althan Quartier' development is at the centre of the government’s plans to reinvigorate Vienna's neighbourhood district. The 2.4 hectare site is being completely redesigned and modernised, with sustainability at the forefront of the construction project. The reinforced concrete skeleton of the station will remain and serve as the foundation for the "Althan Quartier", which will house offices, flats, restaurants, shops, a hotel and a parking garage, among other things.

The DLA Piper team was led by Dr. Oskar Winkler, partner and head of the Project & Finance practice group in Vienna. He was supported by Counsel Alexander Schultmeyer and Senior Associate Michail Fouzailov.

DLA Piper partner, Dr. Oskar Winklar, commented: “We are proud to have played a decisive role in the financing of this landmark project. This complex fundraising drew upon the full expertise of the team, as we worked to a tight deadline and overcame a number of particularly challenging aspects of the project, such as balancing the interests of the lenders, the mezzanine capital providers and the borrowers.”