Schoenherr advises Immoeast on Wipark sale

European law firm Schoenherr has advised Austrian real estate group Immoeast on the sale of Wipark Garagen, a leading operator and provider of parking facilities in Austria and Hungary.

The sale of Wipark was run as a public auction, from which two public companies - STPM Städtische Parkraummanagement Gesellschaft and Parkraum Wien Management - emerged as the winning bidder.

'In the final round, we were running parallel negotiations with the three remaining bidders, with the goal to secure the best package for the client', said partner Michael Lagler. 'The negotiations were fair but to stay on top of things during what was effectively a week-long negotiation, took a lot of dedication from everyone involved. In the end, an interesting and challenging transaction.'

Schoenherr’s transaction team was led by Michael Lagler and Florian Kusznier (junior partner), who were supported by Daniel Damjanovic (senior associate) and, for real estate matters, by Alexandra Huber (junior partner) and Erna Hackl (senior associate) in Vienna as well as Dániel Kellner (senior associate) from the Budapest office.