Hans Peter Hasselsteiner has largely withdrawn from a real estate business. The long-time Signa investor and building contractor is divesting its shares in the LZH Group, but remains invested in individual projects through the family foundation.
Managing directors Raphael Lughammer, Dominique Paul, Philipp Mader and Alexandre Sommer-Finn will each acquire 25 percent of the shares as part of the management buyout, according to a statement from the company.
The company, founded with Haselsteiner in 2018, builds and exploits properties in flow areas along major traffic routes and near urban areas. LZH Group estimates the value of the real estate portfolio at 200 million euros. Accordingly, eleven projects have been completed, five more projects are under construction and another ten projects are being planned.
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