Revetas Capital debuts DACH living platform with Vienna project

Real estate investment manager Revetas Capital has launched Pearl, a dedicated living platform targeting residential opportunities across the DACH region.

Pearl, Reschgasse 20

The platform's inaugural transaction is the off-market acquisition of Reschgasse 20, a commercial asset located in Vienna’s Meidling district.

The building has already secured full planning permission for conversion into a 90-unit residential development destined for individual sale.

Revetas secured the asset exclusively by restructuring the transaction alongside the existing lender, with whom the firm holds a long-term relationship.

Located directly adjacent to a U6 underground station entrance and within a short walking distance of the Wien Meidling transit hub, the development is highly connected.

The project will transform roughly 6,400 m2 of legacy office space into modern apartments, averaging between 40 and 60 m2. The inventory will consist primarily of one- and two-bedroom layouts tailored to Vienna’s deep owner-occupier market. The ground floor will be dedicated to retail and gastronomy spaces.

Project delivery is currently targeted for 2028.

Instead of a traditional demolition and new build, the project is designed as a sustainable adaptive reuse development, retaining the building's existing concrete frame to significantly mitigate embodied carbon emissions.

Once completed, the building will target a substantial reduction in operational energy consumption compared to its former office use. Green features will include high-efficiency energy heat pumps, rooftop photovoltaic (PV) solar panels, EV charging stations and secure bicycle parking.

Peter Daubner, director at Revetas Capital, added: “This first acquisition is exactly the kind of opportunity Pearl was built for: a well-located, permitted asset, restructured constructively with the existing lender, that we can bring back into use as high-quality apartments. It is fully consistent with our investment strategy – value-add and special situations executed by our local teams – and we expect Pearl to scale well beyond this first asset, with further conversions, development sites and partly built schemes being assessed across the DACH region.”