EHL: History
heeled clientele of the private bank, but it was soon in demand from other market participants as well. It thus quickly became clear that today's EHL had to po- sition itself as an independent brokerage company. It started with four desks in the rear office wing of the Ringstrassengalle- rien And everything else was different from today, or almost everything. Even back then, "go- ing the extra mile for the cus- tomer" was not yet a mantra as it is today, although the little extra effort and service was prevalent from the very first hour. Shortly after Heinz Fletzberger, today CEO of the renowned housing
The first team: GF M. Mitterdorfer, H. Fletzberger, M. Lindlbauer and M. Ehlmaier.
developer SÜBA, and Manuela Lindlbauer, who is now a successful personnel consultant, Michael Ehlmaier augmented the team. That was on 3 October 1994, just three years after the company was founded. Mi- chael Mitterdorfer, who later built up and expanded the Wlaschek real estate empire for more than 20 years as a board member of Amisola AG, was the managing di- rector at that stage. Somehow this was quite challeng- ing for the always ambitious youngster Michael Ehlmai- er as the third employee. After all, the managed asset classes, namely residential and office, were already in firm hands. Heinz Fletzberger was responsible for the office business, with huge success, and Manuela Lindl- bauer was no less committed to the residential sector.
In the 1990s, people in Vienna traditionally lived in rented accommodation, preferably in municipal build- ings or cooperative flats. Investing money in real es- tate of any kind was reserved for an exclusive circle of affluent industrialists and entrepreneurs. It was precisely at this time, however, that the first signs of a new beginning and a new self-image in the real estate industry appeared in Austria, especially in Vienna. At that time, Constantia Privatbank conceived the mod- el of the retire apartment. The idea was to develop a reliable investment product for the private bank's cli- entèle. The apartments were financed by means of a loan, rented out and the monthly rental income was used to service the loan instalments. In retirement, when the instalments are paid off, the rent represents a second pension. What is almost standard today and still in high demand was laughed at and boycotted by some estate agents back then. There were hardly any estate agents on the market who wanted to sell this new product. CPB Immobilientreuhand (now EHL) was the first company to first sell and later rent out these flats. Originally, this product was intended for the well-
And where was place to be found for a third member of the group?
Forming a team out of individual fighters and then shouldering it together in trusting cooperation, saving competitive thoughts for the competition and concen- trating on what we have in common; these have been
1999 – Michael Ehlmaier becomes managing director
2004 – 1. Office market
2003 – Foundation of the research division – 1. Press conference on the real estate market
2006 – Foundation of the division property assessment
report: Launching of EHL market reports
30 YEARS I Jubilee
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