The JP Immobilien Group, a leading Austrian company in real estate and hotel development, has concluded the structuring, negotiation and signing of a hotel development agreement and a hotel lease agreement for a new serviced apartment project in Vienna. Legal advice was provided by Wolf Theiss.
The project is located on Mechitaristengasse in Vienna's 7th district, Neubau. JP Immobilien is developing a property there with 30 guest rooms. The development is characterised by its integration into a part of the historic building complex of the Viennese Mechitarist Congregation, combining historical architecture with a modern serviced apartment concept in a prime Vienna location. Additionally, co-working areas are planned.
Numa, a technology-driven hospitality platform operating across Europe, will take over the operation of the property upon its completion. Realisation is scheduled for the first quarter of 2028. Daniel Jelitzka, owner and managing director of the JP Immobilien Group, commented on the choice of operator, highlighting that Numa is a financially strong partner with a lean organisational structure and proven experience in the serviced apartment sector.
Strategic focus and advisory role
The development on Mechitaristengasse continues JP Immobilien's strategy of revitalising historic properties through contemporary hospitality concepts. Founded in 1996, the company, which has already completed over 560 projects throughout Austria, is active in the business areas of real estate brokerage, investment, project development and hospitality.
Comprehensive legal advice for JP Immobilien was provided by Wolf Theiss. This included project structuring, as well as the negotiation and conclusion of the relevant contracts. The Wolf Theiss advisory team, consisting of Partner Stefan Horn and Associate Valentin Weinold, both active in real estate law, supported the establishment of this partnership. Stefan Horn emphasised that the project combines the careful renovation of a historic property with a contemporary hospitality concept.
Numa was advised legally by their internal legal team led by Katrin Pilgram, as well as by CMS Reich-Rohrwig Hainz, led by Gregor Famira.
