Press Release
formart sells part of DURST-BAU
 Nikolaus Lenauer takes over revitalization segment
 DURST-BAU keeps real estate development
 Christian Huber, MBA, is sole new Managing Director
formart GmbH & Co. KG, one of the leading residential real estate developers in
Germany, is shedding part of its Austrian subsidiary DURST-BAU. The Revitalization/Refurbishment & Upgrading segment is being taken over by former DURSTBAU manager, Nikolaus Lenauer, as part of a management buy-out (MBO). To
this end, Lenauer has set up a company, LEN-BAU GmbH. Under the terms of
the MBO, 36 employees will move to LEN-BAU. Average annual sales in the area
of Refurbishment & Upgrading are around 10 million euros.
“I am delighted that projects that have been started will now be allowed to continue within a dedicated company and with the same, excellent employees working together as part of a well-rehearsed team,” says Nikolaus Lenauer, Managing
Director of LEN-BAU. “Vienna’s population is growing rapidly and this is driving
demand for attractive, well-built residential space which cannot be met through
new-build activities alone. I believe this offers great potential for LEN-BAU,”
Lenauer continues. It was agreed that no details of the purchase price would be
disclosed.
“We are happy that we have been able to place our revitalization business in
good hands. In doing so, we have ensured job security for all of the longstanding employees at DURST-BAU in the area of Revitalization/Refurbishment &
Upgrading. In Germany, formart is exclusively concentrating on the construction
of new residential real estate. The refurbishment and upgrading of existing buildings do not form part of formart’s business. In selling this part of the company,
formart GmbH & Co. KG, Sitz der Gesellschaft: Essen, Registereintragung: Amtsgericht Essen, HRA 10001, Steuer-Nummer: 112/5828/3814,
Komplementärin: formart Management GmbH, Essen, Registereintragung: Amtsgericht Essen, HRB 24670,
Geschäftsführer: Kruno Crepulja, Andreas Gräf, Oliver Schmitt
Communications
Press contact:
RUECKERCONSULT
Thomas Rücker
Wallstraße 16
10179 Berlin
Tel.: 030 2844987-48
Fax: 030 2844987-99
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just like in Germany, we in Austria will also be focusing solely on real estate de-
Communications
velopment,” explains Kruno Crepulja, spokesman of the formart Board of Management.
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04/02/2015
DURST-BAU will retain real estate development business which currently has a
portfolio of six projects, with revenue of 61 million euros. Christian Huber, MBA,
will be the sole Managing Director of DURST-BAU with immediate effect. Huber
has previously held a senior position at DURST-BAU. “My objective is to further
develop DURST-BAU into a successful company in substantial, technical and
structural terms that is entirely focused on real estate development,” Huber said
on taking over the management of DURST-BAU’s business.
About formart GmbH & Co. KG
formart develops, constructs and markets residential properties in Germany, Luxembourg and
Austria. It is one of Germany´s leading residential property developers, selling more than 700
apartments per year to owner-occupiers and private and institutional investors. formart currently
manages around 70 projects with a project volume of EUR 1 billion. These include designing building legislation for complex properties as a partner to the public sector and implementing multigeneration housing, modern urban forms of housing, entire residential districts and apartment
buildings. www.formart.eu
About DURST-BAU GmbH
As a traditional business with over 65 years of experience in the region of Vienna, DURST-BAU
develops superior apartments with an integrated range of services. This includes sophisticated,
complex building construction as well as residential construction projects, as a property development measure and as an investment product for investors. At present, DURST-BAU is looking after
around six residential developments and, as part of this, developing around 135 new apartments.
www.durst-bau.at
About LEN-BAU GmbH
Recently founded, LEN-BAU GmbH is focused on the complete revitalization of existing real estate,
upgrade projects and refurbishment measures, as well as heating and energy-efficiency refurbishments of residential real estate (thewosan).
formart GmbH & Co. KG, Sitz der Gesellschaft: Essen, Registereintragung: Amtsgericht Essen, HRA 10001, Steuer-Nummer: 112/5828/3814,
Komplementärin: formart Management GmbH, Essen, Registereintragung: Amtsgericht Essen, HRB 24670,
Geschäftsführer: Kruno Crepulja, Andreas Gräf, Oliver Schmitt
DURST-BAU projects
Communications
Borschkegasse, Vienna, 9th District, 22 apartments
Sobieskiplatz, Vienna, 9th District, 37 apartments
Sieveringer Strasse, 19th District, 12 apartments
Siebertgasse, Vienna, 12th District, 26 apartments, in planning
Grundsteingasse, Vienna, 16th District, in planning
Hochstrasse / Krautgasse, Perchtoldsdorf, 17 apartments and four row houses
LEN-BAU projects
Marchettigasse 1A, 1060 Vienna
Strohgasse 6 – attic conversion, 1030 Vienna
Mariahilfer-Strasse 178 – refurbishment, 1150 Vienna
Czokorgasse 62-64 – refurbishment, 1110 Vienna
Vienna Stadthalle – refurbishment, 1150 Vienna
Wildpretmarkt 2-4, 1010 Vienna
FG00036 Altmannsdorferstrasse 89 – refurbishment, 1120 Vienna
and various maintenance work in the area of facility management
formart GmbH & Co. KG, Sitz der Gesellschaft: Essen, Registereintragung: Amtsgericht Essen, HRA 10001, Steuer-Nummer: 112/5828/3814,
Komplementärin: formart Management GmbH, Essen, Registereintragung: Amtsgericht Essen, HRB 24670,
Geschäftsführer: Kruno Crepulja, Andreas Gräf, Oliver Schmitt
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04/02/2015