The premium properties of the insolvent empire around René Benko are gradually in new hands. The sale of the “Upper West” High -Rise in Berlin brought 450 million euros. The object of Germany of the Signa and a private -luxury apartment Benko was housed on the top floors, goes to the Schooller Industrial Family.
The negotiations had already continued in recent months, most recently for some time at Schoeller, German media reported. As the best bidder in the course of a tendering procedure, Schoeller signed the purchase contract for the former Germany headquarters Benko, according to the Insolvency Administrator of the selection of the Signa Prime Real Estate Agency last Friday. The final transmission must take place in the first quarter of 2025.
Millions of loans must be repaid
The parties would have agreed the confidentiality about the details of the transaction, also at the purchase price. The sum of almost half a billion euros in the media refers to research by the German “Immobilien Zeitung”. Parts must be compensated for a loan of 200 million, which the Schoeller Group had granted Signa Prime, a little before the Signa Group collapsed.
For the chair of Germany and the luxury apartment, the Signa paid itself 4.2 million euro rental, it said. The total rent of the high emergency is expected to have 18 million euros at the end of 2022. Large parts of the building are currently being rented to the Motel One Hother Chain, to Wework and the real estate company CBRE. What happens with Benko’s luxury Float seems to be unclear.
With 33 floors 120 meters high
With a height of 120 meters and 33 floors, it is Upper West, whose project planning De Strabag was used, one of the striking sights of the city of West of Berlin. The commercial real estate of approximately 55,000 square meters in the Berlin Zoo in the immediate vicinity of the historical memory church includes a hotel and shops and catering areas next to office space.
The Schoeller group of the Bavarian Pullach has already taken over several insolvency projects from Signa in Italy. The industrial family had bought the Five Star Hotel Bauer in Venice last year, bought the large -scale Walther Park project under construction and the Viva Virgolo development project in Bozen. In June 2024, Schoeller also took over the Luxembourg division of Signa Prime, in which the valuable objects of the Insolvent Real Estate Group were summarized.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
