Historical Building in Vienna City Sold After Signa Bankruptcy

"The property is being sold as part of a share deal through the sale of 100 percent of the limited partnership shares of Renngasse 2 Beta KG and 90 percent of Renngasse 2 Immobilien KG," confirmed Signa Prime insolvency administrator Norbert Abel, corroborating media reports. The purchase price for the historic building in Vienna's city centre has been kept confidential.

Historic Building in Vienna City Second Signa Building for JR Investment

The building at Renngasse 2 was originally listed in the Signa books for 160 million euros. According to "Kurier", the most recent estimated value was around 100 million euros. The building is therefore burdened with a maximum mortgage of 120 million euros. According to "Presse", the sale of the building at Renngasse was preceded by a structured bidding process. The offer period ended in December, and the completion of the sale was announced for early 2025. The signing is planned for today, Wednesday. Bank Austria announced in December the imminent end of the Art Forum, as operation without the sponsorship of Signa Prime would not be possible. JR Investment already purchased the corner building on Kärntner Straße, which houses the Apple Store, from Signa in 2023 for 95 million euros.

(APA/Red)

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