The group Signa sells three Italian assets to the German group Schoeller. The mixed use project is part of the package WaltherPark under construction in Bolzano, theHotel Bauer of Venice and Long live Virgoloalso in Bolzano.
The closing of the operation is expected within a few months. The proceeds will be used to reduce Signa’s exposure to creditors.
Schoeller is a German company operating in the sustainable packaging, logistics and real estate sectors, led by brothers Christoph And Martin Schoeller.
WaltherPark (marketed by Rustioni&Partners) is an urban development project of 35,000 m2 Gla and 90 shops (the arrival of a food space in Il Mercato Centrale was also recently announced), a 4-star superior hotel, apartments and office spaces. The opening is scheduled for spring 2025. Christoph Schoeller, the new owner, has confirmed his utmost commitment to completing the works within the scheduled timeframe.
Signa, the Austrian real estate giant headed by Rene Benko and which had equity investments for 27 billion and projects under development for 25 billion, entered into financial difficulty due to the rise in rates and the crisis in the real estate sector. The estimated hole amounts to more than 10 billion.
In April, the group withdrew its previous recovery plan by definitively filing for bankruptcy and selling a large part of its properties to repay creditors.
Reproduction reserved retail&food
