Austria's CA Immobilien announced on Wednesday that it has bought the German project development company Vivico Real Estate from the German government for EUR 1.03 bn. The acquisition is still subject to regulatory approval from the Austrian competition authority.
Austria's CA Immobilien announced on Wednesday that it has bought the German project development company Vivico Real Estate from the German government for EUR 1.03 bn. The acquisition is still subject to regulatory approval from the Austrian competition authority.
CA Immobilien beat competition from Carlyle and Colony, both private equity firms, to acquire the Vivico. German real estate company IVG Immobilien had also initially been interested in buying Vivico, but dropped its bid at a later stage.
Founded in 2001, Vivico develops mostly commercial projects on out-of-use railway properties. It is headquartered in Frankfurt-Main and has offices in Munich, Berlin, and Cologne. The company manages about 150 commercial real estate properties and project developments.
