Signa Prime Near Deal With Schoeller Group on Austria Asset Sale

Signa’s flagship property unit is close to an agreement to sell a portfolio of luxury Austrian assets to Germany’s Schoeller Group, according to people familiar with the matter.

A transaction would be the first major deal with property held by Rene Benko’s troubled real estate conglomerate since its insolvency at the end of last year.

Schoeller Group has emerged as the buyer of the portfolio of properties, which include the Golden Quarter luxury store complex and the Park Hyatt hotel in Vienna, three people familiar with the deal told Bloomberg.

Signa Prime’s Loan From German Family Stymies New ...