Hans Peter Haselsteiner has largely withdrawn from a real estate company. The Signa investor and long-time building contractor is giving up his shares in the LZH Group, but remains an investor in individual projects through the family foundation.
The managing directors Raphael Lughammer, Dominik Paul, Philip Mader and Alexander Sommer-Fein are each taking over 25 percent of the shares as part of a management buyout, according to a statement from the company.
The company, founded together with Haselsteiner in 2018, builds and exploits properties in influx regions along main traffic routes and near metropolitan areas. The LZH Group estimates the value of the real estate portfolio at 200 million euros. Accordingly, eleven projects have been completed, five more are under construction and ten are being planned.
