Signa Pays €500M For German RE Assets

Signa Holding has completed the acquisition of three commercial properties in the German cities of Munich and Hamburg.

Signa Holding has completed the acquisition of three commercial properties in the German cities of Munich and Hamburg, PropertyEU reports. The investment vehicle of Austrian businessman Rene Benko paid a total of €500 million for the acquisition. The deal involves the Karstadt Oberpollinger and Karstadt Sport commercial buildings in Munich and the Spitalerstraße 22-26 in Hamburg, The Munich properties were divested by the Highstreet group, while the Hamburg asset was sold by Vattenfall Europe.

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