FRANKFURT Dec 23 Austrian property developer
Signa said on Sunday it has acquired the buildings used by
Karstadt's 17 department stores for more than 1.1 billion euros
All the buildings, including one that houses Germany's
iconic KaDeWe department store in Berlin, were sold by owner
Highstreet Holdings and have a long-term lease with Karstadt.
Highstreet's owners includes Goldman Sachs and
Deutsche Bank Real estate fund group RREEF, Signa
said in its statement.
Signa Holding is the investment vehicle of property investor
Rene Benko, who was interested in buying Metro's Kaufhof