What Immovate Projektentwicklungs does

IMMOVATE Realita GmbH is a privately-held Austrian real estate development company founded in 2001 by Martin Kurschel, headquartered in Vienna's 1st district (Wipplingerstraße 1) and operating as an independent developer within the IRMA Investments corporate network. The company covers the full real estate value chain — scouting and transactions, development, construction supervision, and asset management — and has delivered over 20 completed and ongoing projects across residential, hotel, student housing, logistics/industrial, and mixed-use asset classes, primarily in Austria (Vienna, Graz, Innsbruck) with selective international activity. Core technologies include sustainable design principles and, at Business Village Styria, an integrated energy supply system combining photovoltaic-equipped roofs, a combined heat and power plant, waste heat recovery, and energy storage to improve operating economics and ESG profile.

The company's project portfolio spans large-scale developments including Jakomini Verde (570 apartments in Graz, in joint venture with ARE Real Estate Development), Business Village Styria (approximately 90,000 m² of logistics and industrial halls plus an office complex), Business Tower Styria (a 12-floor, 45-meter mixed-use tower with ~20,000 m² of office, hotel, retail and catering space, under construction preparation with 2027 completion), Radisson Red Vienna (179-room lifestyle hotel inaugurated February 2022, winner of European Property Awards 2022-2023 for Hotel Architecture in Austria), Micro Living Graz (224 student residence spots), Skihotel Fieberbrunn (149-room ski-in/ski-out hotel), and heritage assets including Schloss Schwanberg (acquired 2021). Notable tenants across the portfolio include Radisson Red, Motel One, BILLA, BIPA, FITINN, and Cineplexx.

IMMOVATE pursues a sales-led go-to-market targeting high-net-worth investors and family offices (through direct outreach, the corporate website, and partner VALUITA's builder/owner model distribution) alongside commercial tenants (hotel operators, retail brands, fitness operators, cinema operators). Revenue is generated through development fees, project margins on multi-year construction cycles, and recurring asset management fees on owned or managed properties. The firm has 11-50 employees and is led by co-CEOs Martin Kurschel (founder, 20+ years in investment and real estate) and Wolfgang Schnopfhagen (CEO since 2019, responsible for acquisition, sales, and asset management), with CTO Florian Gangl (with the company since 2010, CTO since 2021) overseeing project management and construction.

Name

Immovate Projektentwicklungs

Legal name

IMMOVATE Realita GmbH

Website

https://immovate.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

IMMOVATE Realita GmbH is an Austrian private real estate developer that delivers the full value chain — scouting, development, construction supervision, and asset management — across residential, hotel, student housing, logistics, and mixed-use projects for institutional investors, family offices, and commercial tenants in Austria.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Rental and Leasing Services (532), Real Estate Property Managers (53131), Lessors of Other Real Estate Property (53119), Industrial Building Construction (23621)

SIC

Real Estate (6500), Lessors Of Real Property, Nec (6519), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

Keywords

• Real estate development
• Property asset management
• Commercial real estate
• Construction project management
• Real estate investment

Headquarters

HQ city

Graz

HQ country

Austria

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Real Estate Development & Project Management: IMMOVATE develops real estate projects from concept through completion, covering the full value chain: scouting & transactions, development, construction management, and asset management. Revenue is generated through development fees, project margins, and commercial management services. The company also offers builder/owner models (e.g., through partner VALUITA) that assign apartments to investors.
2. Asset Management & Property Management: Post-development commercial and asset management of owned or managed properties, generating recurring management fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

IMMOVATE Realita GmbH is a private Austrian real estate development company delivering full-cycle property services across the entire value chain: Scouting & Transactions, Development, Construction Management, and Asset Management. The company develops residential, hotel, student housing, logistics/industrial, and mixed-use projects in Austria and select international markets, serving investors and commercial tenants.

Product overview

IMMOVATE Realita GmbH is a real estate development company with over 20 years of experience operating as part of the IRMA Investments corporate network. The company offers a comprehensive value chain covering Scouting & Transactions, Development, and Construction & Asset Management services. Their portfolio includes diverse property types: residential/mixed-use projects (Jakomini Verde, Marx Hub, Bad Gleichenberg), hotels and student housing (Radisson Red Vienna, Skihotel Fieberbrunn, Schloss Schwanberg, Micro Living Graz, Lehenrotte Recreation Centre), commercial/retail properties (FMZ Sagedergasse, Cineplexx Innsbruck, Shopping Centre Vösendorf), and large-scale logistics/industrial developments (Business Village Styria, Business Tower Styria, HUB 21). They specialize in new developments, urban and land development, and conversion/revitalization of existing properties with a focus on historical buildings in prime locations. Investment opportunities are facilitated through partner company VALUITA.

Differentiator

Problem solved

Functional benefit

Products and services

• Scouting & Transactions
• Development Services
• Construction & Asset Management
• VALUITA Builder/Owner Model Investment
• Business Tower Styria 12-floor, 45-meter high-rise office/hotel/retail tower within Business Village Styria, offering ~20,000 m² of modern space at Lieboch A2/B76 motorway junction near Graz.
• HUB 21 / Quartier Jedlersdorf Green and smart commercial quarter development at Prager Straße 94-112 in Vienna's 21st district; 13,553 m² plot planned for commercial, office and production use with multi-layered green areas built to modern climate standards.
• Jakomini Verde Urban residential village on former Kirchner Kaserne barracks in Graz with 10 modern houses, 570 apartments with outdoor areas, and 5.7-hectare public park with sports and play area. Cooperative project with ARE Real Estate Development.
• Micro Living Graz Modern student residence next to UNESCO World Heritage Site Schloss Eggenberg in Graz, with 224 residence spots comprising 157 single rooms, 14 double rooms, and shared apartments, plus fitness studio, bicycle storage, music/party room, and learning lounge.
• Radisson Red Vienna Lifestyle hotel at Obere Donaustraße 61 in Vienna's Leopoldstadt district. 179 rooms, rooftop bar, fitness studio, and modern event/seminar area. Operated by Radisson Red. Winner of European Property Awards 2022-2023 in Hotel Architecture.
• Skihotel Fieberbrunn Ski-in/ski-out hotel in Kitzbühel Alps with planned 149 rooms, wellness and spa area, fitness and conference room, and Almbar accessible directly from the piste. Direct access to Saalbach-Hinterglemm-Leogang-Fieberbrunn ski circuit.
• Schloss Schwanberg Castle acquired in 2021 (built 1581) in the Styrian Schilcher wine region. 64,523 m² total property including 6,000 m² usable area in main castle and outbuildings. Potential real estate developments being evaluated.
• Lehenrotte Recreation Centre Medical wellness hotel development on a 600,000 m² site in Lower Austria. 100 rooms with spa and pool area, southeast-facing orientation. Located 660m above sea level, 40-90 minutes from Vienna/St. Pölten.
• Bad Gleichenberg Assisted Living Assisted living facility renovated and converted in 2011. 14 residential units with 16 supervised residence spots. Located near parish church at edge of Bad Gleichenberg village with shopping, medical care, and thermal spa access.
• Business Village Styria Large-scale logistics and industrial complex at Lieboch A2/B76 motorway junction. 90,000 m² plot with 16 logistics/industrial halls, office complex, parking, and local supply facilities. Includes photovoltaic systems and combined heat and power plant for energy supply.
• FMZ Sagedergasse Commercial property in Vienna's 12th district built in 1978 and renovated in 2007. Approx. 8,700 m² usable area with retail tenants including BILLA and BIPA, FITINN fitness studio, and office spaces.
• Cineplexx Innsbruck Leisure property at foot of Bergisel hill near Innsbruck main station. 6,700 m² usable area with Cineplexx cinema, restaurant, and two clubs. In property portfolio since 2016.
• Marx Hub Mixed-use development for living and working at Rennweg 104-108 in Vienna. 2,279 m² plot combining residential, commercial and production uses in one building.

Quantifiable outcome

• 224 student residence spots delivered at Micro Living Graz
• +3 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• S IMMO AG: Austrian listed real estate investment company with residential, office, and retail assets primarily in Austria and CEE. Comparable as a domestic peer operating across multiple property types, but with a much larger AUM and a buy-and-hold strategy rather than development-led.
• CA Immobilien Anlagen AG: Vienna-listed real estate investment and development company focused on office, retail, and residential properties in Austria and CEE. Comparable to IMMOVATE as an Austrian institutional-grade developer with diversified asset-class exposure, though operating at much larger scale and public-market scale.
• Raiffeisen Immobilien Österreich: Austrian real estate brokerage and development arm of the Raiffeisen banking group, active in residential and commercial property across Austria. Comparable in Austrian market focus and full-chain services, though backed by a much larger banking parent and operating at significantly greater scale.
• STRABAG Real Estate: Real estate arm of STRABAG SE, one of Europe's largest construction groups, active in Austrian and CEE property development. Comparable in that it operates across residential, office, and hotel asset classes in Austria, though backed by a much larger contracting and balance-sheet parent.

Direct peers

• WINEGG Realitäten GmbH: Vienna-based residential and mixed-use real estate developer with focus on premium urban projects in Austria. Comparable to IMMOVATE's residential and mixed-use development pipeline in Austrian urban locations, operating at similar mid-market scale with private-investor sales-led GTM.
• GalCap Europe: Vienna-based real estate private equity and development firm focused on value-add and opportunistic projects in Austria and CEE. Comparable as an Austrian-anchored developer targeting similar investor profiles and asset classes, though with a more PE-style investment approach.
• IC Development GmbH: Austrian real estate developer active in residential and commercial projects across Vienna and surrounding markets. Directly comparable to IMMOVATE's residential and commercial development activity in the Austrian core market at similar mid-market scale.
• Value One Holding AG: Vienna-based real estate developer with a portfolio spanning residential, hotel, and mixed-use projects in Austria and CEE. Closely comparable to IMMOVATE in asset-class breadth (including hotel and student housing) and Austrian/regional focus, with similar mid-market positioning.
• SÜBA AG: Austrian real estate developer focused on residential and urban development projects in Austria. Directly comparable to IMMOVATE in scope (residential-led Austrian development) and target market (Austrian family-office and private investors), making it a closely aligned mid-market peer.

Regional players

• EHL Immobilien GmbH: One of Austria's largest real estate service firms covering brokerage, asset management, and valuation across residential, commercial, and investment properties. Comparable as an Austrian full-service real estate player with overlapping asset-management and investor-facing capabilities, though primarily a service firm rather than a developer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/immovate-projektentwicklungs-gmbh

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Immovate Projektentwicklungs