Zwerenz & Krause was founded by Mr Carl Maria Zwerenz and Mr Heribert Krause as a company, specialised in event management.


On the site of today’s Bahnhof Wien Mitte, the first bridge-building was built as an exhibition-, event- and shopping-center, known as AEZ. These and other station reconstruction projects are among the first milestones of the company in Austria.


After the death of both founders in the early 1970s Mr Carl Zwerenz and family Krause take over management of the business and continue to run it as a real estate company.


Mr Erwin Krause takes over management of the entire Zwerenz & Krause Group in Vienna and Munich. After refurbishment, the Wien Mitte and AEZ shopping centres are sold to institutional investors from the UK and Austria.


Zwerenz & Krause becomes the Country Partner for LET, the London and Edinburgh Trust (Beckwith Group), in Austria.


The group enters the German market and sets up a subsidiary in Munich. Projects follow in Widenmayerstraße and in Sendling.


The group commences operations in Central and Eastern Europe (CEE) and enters the Hungarian market. It becomes the Country Partner for European City Estates for Austria, Hungary and parts of Germany.

The group collaborates on development projects including the construction of the SAP headquarters in Vienna and the refurbishment of the Deckel Maho building in Munich. It also rejoins the Wien Mitte project in partnership with BAI and PORR AG.


Zwerenz & Krause enters the Czech market and sets up a subsidiary in Prague.


The group embarks on a joint venture with the Europa Fund, a pan-European property investor.

It is the main partner for the Gasometer Shopping & Entertainment Centre and Office Campus Gasometer I & II projects.

Zwerenz & Krause becomes the Country Partner for European City Estate and Europa Capital Partners Ltd. for Austria, Hungary and parts of Germany.


The Krause family purchase the Zwerenz family’s shares in the group to become its sole owner.

The group enters the German market and sets up a subsidiary in Munich. Projects follow in Widenmayerstraße and in Sendling.


The IRES (International Real Estate Services) brand is established. The group’s network for the acquisition of real estate and processing in Central and Eastern Europe is further expanded. Zwerenz & Krause also successfully enters the Polish market.


The group enters into a close partnership with Global State Investments B.V., establishing a lasting network and cooperation with the Dutch property investor. It is involved in establishing three closed property funds and in organising and handling several projects in Austria and the CEE countries such as the Wiener Höchstädtplatz development project in Vienna’s 20th district together with the Vienna Business Agency (Wiener Wirtschaftsförderungsfond – WWFF).


Zwerenz & Krause acts as Technical Service Advisor (TSA) for the Polonia Fund I with a volume of EUR 400 million in partnership with AIB (Allied Irish Bank).


CREDO Real Estate AG is set up as a joint venture between the Zwerenz & Krause Group and Constantia Privatbank AG.
The group expands further in the CEE region – in addition to its activities in Austria, Germany, Hungary and the Czech Republic with subsidiary companies operating under the IRES name, partner offices are established in Poland, Latvia, Romania, Russia, Croatia and Slovakia.


Shares in CREDO Real Estate AG are sold to Constantia Immobilien Development GmbH and the company Zwerenz & Krause is restructured as a family office.
An industrial holding company for shareholdings is founded in addition to the property holding company.

Project development begins at the Nordwestbahnhof site in Vienna’s 20th district.
Zwerenz & Krause acquires the head office of Schöps in Nordwestbahnstraße and develops office premises together with the Vienna headquarters of the beverage distributor Del Fabro and a Hofer supermarket.

Embarking on an intensive assessment of the Berlin property market, the group purchases the office building at Storkowerstraße 139b in Prenzlauer Berg in partnership with RED Real Estate Development GmbH.


The group sets up Tradeland GmbH and launches the “FamilyPoint” roll-out programme in Poland together with Austrian private investors and the British financial investor REVCAP.

A development project begins for 155 lakefront properties in Parndorf under the “Villaggio Seeresidenzen” name.


A joint venture is launched with apm Holding to build the VILLAGGIO fashion outlet in Parndorf.


The 6B47 Group is set up and expanded in Austria and Germany.

The 6B47 Club is also founded.


First phase of construction: VILLAGGIO fashion outlet Parndorf . This project has already received the DIVA-Award 2012 (an award for outstanding real estate projects in Austria).


A partnership is agreed with BAI (BAI Bauträger Austria GmbH) to develop Nordwestbahnstraße near the Nordwestbahnhof site in Vienna’s 20th district. The second stage of the Fashion Outlet Parndorf development in Parndorf also gets under way.

The company is renamed BETHA Zwerenz & Krause GmbH. All of the group’s business activities are now united under the new “BETHA Zwerenz & Krause” umbrella brand.

2014 – 2016

Professionalization and expansion in all investments.
Milestones 6B47 Group: Acquisition of PDI in Germany or the Franz Josef train station in Vienna.
Milestones Invester Group: Freeport Outlet, Hilton Vienna