Pecik was an investor

Viennese real estate developer 6B47 is insolvent

Investor Ronny Pecik(Bild: APA/GEORG HOCHMUTH)

The Viennese real estate developer 6B47 Real Estate Investors AG is insolvent. Around 130 creditors and 15 employees are affected. The so-called Althan Quartier in the ninth district was only sold in the summer; investor Ronny Pecik was also involved.

"The insolvency administrator yet to be appointed will have to examine whether the company can continue as a going concern or whether closure is unavoidable," said Alexander Greifeneder from KSV1870. The bankruptcy proceedings had become necessary due to the rising interest rates on loans and construction costs as well as the falling price level.

It was only in the summer that 6B47 (pronounced "six before seven") sold the Althan building site in Vienna's 9th district. The property was sold to investor Ronny Pecik, former Immofinanz board member Stefan Schönauer and Baustoff + Metall GmbH, run by the Kristinus family.

Apartments, offices, a hotel and real estate for stores were to be built on the 2.4 hectare construction site. There was already talk of financial difficulties at the time.

16 projects affected
"After a joint effort by banks, mezzanine creditors and shareholders succeeded in implementing an out-of-court restructuring in December 2023 (...), unexpected delays in the implementation of projects and unexpectedly sharp declines in real estate prices in 2024 in particular recently led to a renewed economic 'imbalance' (...)", a statement said on Monday.

The Austrian company currently has 16 development projects. In Germany and Poland, all offices have already been closed and some projects have been sold. The remaining projects for these two countries are to be organized from Austria in the future.