The flagship of the Signa Group around the Tyrolean investor Rene Benko sells real estate and an open-end real estate fund in Germany. The buyer is asset manager Commerz Real. At the same time, new participations of 20 percent were acquired.
Signa Prime announced this in a broadcast on Monday. The 20 percent stake relates to eight Hausinvest department stores that the fund has owned since 2019. On the other hand, the Mynd office tower and the Galeria Weltstadthaus on Berlin’s Alexanderplatz, which are still under construction, will be sold. Until now, Commerzbank’s real assets subsidiary had a 20 percent interest in the complex. Financial details of the new deals have not been disclosed.
Sales in Vienna
In mid-May, Signa already sold a house on Kärntner Strasse in Vienna, where Apple has a branch. The company is said to have received 95 million euros from an Upper Austrian industrialist. At the beginning of June, the operational business of the furniture chain Kika/Leiner was finally sold to retail manager Hermann Wieser. The real estate of Kika/Leiner went to the Supernova Group of the German specialist brand entrepreneur Frank Albert.
The operational trading activities recently brought losses to Signa. Signa Sports’ share price is down 62 percent since going public at the end of 2021. The restructuring plan of the subsidiary Galeria Karstadt Kaufhof in Germany provides for the closure of approximately one third of the last 129 stores. According to previous information, the suppliers, landlords and other creditors must hand in more than 1.3 billion euros.
Source: Krone
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